Sonoco Products (NYSE:SON) PT Lowered to $60.00 at Citigroup

Sonoco Products (NYSE:SONFree Report) had its price target decreased by Citigroup from $64.00 to $60.00 in a report published on Monday, Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Sonoco Products from a strong-buy rating to a buy rating in a research note on Wednesday, July 3rd. Wells Fargo & Company lifted their price objective on shares of Sonoco Products from $56.00 to $57.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $58.50.

Get Our Latest Stock Analysis on SON

Sonoco Products Trading Up 1.3 %

Shares of SON stock opened at $48.94 on Monday. The company has a 50 day moving average of $56.84 and a 200-day moving average of $56.91. The company has a quick ratio of 0.83, a current ratio of 1.31 and a debt-to-equity ratio of 1.08. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The firm has a market cap of $4.81 billion, a P/E ratio of 12.36, a PEG ratio of 1.90 and a beta of 0.68.

Sonoco Products (NYSE:SONGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.07. Sonoco Products had a net margin of 5.86% and a return on equity of 20.79%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business earned $1.40 EPS. Sonoco Products’s revenue was down 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Sonoco Products will post 5.1 earnings per share for the current year.

Sonoco Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $0.52 per share. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Thursday, May 9th. Sonoco Products’s payout ratio is 52.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Sonoco Products during the 1st quarter worth $26,000. Bruce G. Allen Investments LLC bought a new stake in shares of Sonoco Products during the 4th quarter worth $28,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Sonoco Products by 78.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 216 shares during the last quarter. Burkett Financial Services LLC bought a new stake in shares of Sonoco Products during the 4th quarter worth $30,000. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Sonoco Products by 12,183.3% during the 4th quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 731 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Sonoco Products Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Sonoco Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products and related companies with MarketBeat.com's FREE daily email newsletter.