Sonoco Products (NYSE:SON) Research Coverage Started at Deutsche Bank Aktiengesellschaft
by Tristan Rich · The Markets DailyDeutsche Bank Aktiengesellschaft began coverage on shares of Sonoco Products (NYSE:SON – Free Report) in a research report sent to investors on Wednesday, Marketbeat reports. The firm issued a buy rating and a $63.00 price target on the industrial products company’s stock.
Several other brokerages have also recently weighed in on SON. Truist Financial reaffirmed a “buy” rating and issued a $69.00 price target (up from $54.00) on shares of Sonoco Products in a research report on Friday, February 20th. Wells Fargo & Company lowered their price objective on Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, March 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Robert W. Baird lifted their target price on Sonoco Products from $48.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Finally, Zacks Research upgraded Sonoco Products from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.22.
Get Our Latest Research Report on Sonoco Products
Sonoco Products Stock Performance
Shares of SON stock opened at $54.83 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $52.94 and a two-hundred day simple moving average of $46.42. Sonoco Products has a 12 month low of $38.65 and a 12 month high of $58.44. The firm has a market capitalization of $5.42 billion, a PE ratio of 5.44, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50.
Sonoco Products (NYSE:SON – Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The industrial products company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The business’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. Analysts forecast that Sonoco Products will post 6.1 EPS for the current fiscal year.
Sonoco Products Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, February 25th. Sonoco Products’s dividend payout ratio is presently 21.05%.
Insider Buying and Selling
In other news, insider Ernest D. Haynes III sold 1,581 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $56.39, for a total value of $89,152.59. Following the transaction, the insider owned 9,377 shares in the company, valued at $528,769.03. The trade was a 14.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.98% of the company’s stock.
Institutional Trading of Sonoco Products
A number of hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. grew its stake in Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 258 shares during the period. Cornerstone Planning Group LLC bought a new stake in shares of Sonoco Products during the 3rd quarter worth $29,000. LRI Investments LLC bought a new stake in shares of Sonoco Products during the 4th quarter worth $29,000. True Wealth Design LLC boosted its holdings in shares of Sonoco Products by 172.5% in the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after buying an additional 471 shares during the last quarter. Finally, Ameriflex Group Inc. boosted its holdings in shares of Sonoco Products by 1,263.6% in the 3rd quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock worth $39,000 after buying an additional 834 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors.
About Sonoco Products
Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.
With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.