Shares of Sonoco Products (NYSE:SON – Get Free Report) have been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $60.17.
SON has been the topic of several analyst reports. Robert W. Baird reduced their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Citigroup decreased their price target on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Truist Financial lifted their price objective on Sonoco Products from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Finally, Bank of America upped their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 6th.
Read Our Latest Analysis on SON
Sonoco Products Price Performance
Sonoco Products (NYSE:SON – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business earned $1.46 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Analysts expect that Sonoco Products will post 5.12 EPS for the current year.
Insider Activity
In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the transaction, the director now directly owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. This represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Sonoco Products
Hedge funds and other institutional investors have recently modified their holdings of the company. Kennebec Savings Bank bought a new position in Sonoco Products in the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Sonoco Products in the third quarter worth approximately $33,000. Abich Financial Wealth Management LLC bought a new position in shares of Sonoco Products in the second quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Sonoco Products during the third quarter valued at approximately $71,000. Finally, Albion Financial Group UT bought a new stake in Sonoco Products during the fourth quarter worth $84,000. Institutional investors own 77.69% of the company’s stock.
Sonoco Products Company Profile
Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.
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