Sonoco Products (NYSE:SON – Get Free Report)’s share price gapped down prior to trading on Monday . The stock had previously closed at $55.60, but opened at $54.29. Sonoco Products shares last traded at $54.34, with a volume of 182,489 shares trading hands.
Analyst Ratings Changes
A number of research firms recently weighed in on SON. Wells Fargo & Company lifted their price target on Sonoco Products from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Citigroup decreased their price target on Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Sonoco Products has an average rating of “Moderate Buy” and a consensus target price of $63.33.
Sonoco Products Stock Performance
The stock has a 50-day simple moving average of $58.46 and a 200 day simple moving average of $57.40. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.31 and a quick ratio of 0.83. The company has a market capitalization of $5.24 billion, a PE ratio of 14.04, a P/E/G ratio of 2.15 and a beta of 0.72.
Sonoco Products (NYSE:SON – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.07. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business earned $1.40 earnings per share. The business’s revenue was down 5.3% on a year-over-year basis. Equities analysts anticipate that Sonoco Products will post 5.19 EPS for the current fiscal year.
Sonoco Products Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a $0.52 dividend. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Thursday, May 9th. Sonoco Products’s dividend payout ratio is currently 52.53%.
Institutional Trading of Sonoco Products
Several institutional investors and hedge funds have recently made changes to their positions in SON. UBS Group AG lifted its position in shares of Sonoco Products by 3.2% in the third quarter. UBS Group AG now owns 42,487 shares of the industrial products company’s stock valued at $2,309,000 after acquiring an additional 1,301 shares in the last quarter. Citigroup Inc. increased its stake in Sonoco Products by 29.3% in the third quarter. Citigroup Inc. now owns 12,147 shares of the industrial products company’s stock valued at $660,000 after purchasing an additional 2,751 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Sonoco Products in the third quarter valued at $207,000. Envestnet Asset Management Inc. increased its stake in Sonoco Products by 39.8% in the third quarter. Envestnet Asset Management Inc. now owns 104,021 shares of the industrial products company’s stock valued at $5,654,000 after purchasing an additional 29,630 shares during the last quarter. Finally, FMR LLC increased its stake in Sonoco Products by 1,231.2% in the third quarter. FMR LLC now owns 694,263 shares of the industrial products company’s stock valued at $37,733,000 after purchasing an additional 642,109 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.
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.