The price of Sonoco Products Company (NYSE:SON) shares last traded on Wall Street rose 0.98% to $59.84.
As we calculate the median target price by taking the range between a high of $77.00 and a low of $61.00, we find $65.50. Given the previous closing price of $59.26, this indicates a potential upside of 10.53 percent. SON stock price is now -0.26% away from the 50-day moving average and -0.75% away from the 200-day moving average. The market capitalization of the company currently stands at $5.75B.
Brokers who have rated the stock have averaged $67.33 as their price target over the next twelve months.
With the price target reduced from $65 to $58, BMO Capital Markets Downgraded its rating from Market Perform to Underperform for Sonoco Products Company (NYSE: SON). On October 13, 2022, BofA Securities Upgraded its previous ‘Underperform’ rating to ‘Buy’ on the stock keeping its target price maintained at $76, while ‘Citigroup’ rates the stock as ‘Buy’.
In other news, Haynes Ernest D III, Pres. Sonoco Metal Packaging sold 652 shares of the company’s stock on Nov 15. The stock was sold for $38,205 at an average price of $58.60. Upon completion of the transaction, the Pres. Sonoco Metal Packaging now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 29, Pres. Sonoco Metal Packaging Haynes Ernest D III sold 1,673 shares of the business’s stock. A total of $105,399 was realized by selling the stock at an average price of $63.00. This leaves the insider owning 5,063 shares of the company worth $0.3 million. Insiders disposed of 93,583 shares of company stock worth roughly $5.6 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SON stock. A new stake in Sonoco Products Company shares was purchased by POEHLING CAPITAL MANAGEMENT, INC. during the first quarter worth $39,188,000. POINT72 ASSET MANAGEMENT, L.P. invested $19,077,000 in shares of SON during the first quarter. In the first quarter, AE WEALTH MANAGEMENT LLC acquired a new stake in Sonoco Products Company valued at approximately $9,106,000. BECK BODE, LLC acquired a new stake in SON for approximately $5,247,000. LSV ASSET MANAGEMENT purchased a new stake in SON valued at around $4,817,000 in the second quarter. In total, there are 574 active investors with 79.40% ownership of the company’s stock.
A candlestick chart of Sonoco Products Company (NYSE: SON) showed a price of $59.26 on Monday morning. During the past 12 months, Sonoco Products Company has had a low of $51.52 and a high of $67.06. As of last week, the company has a debt-to-equity ratio of 1.63, a current ratio of 1.40, and a quick ratio of 0.80. The fifty day moving average price for SON is $60.02 and a two-hundred day moving average price translates $60.28 for the stock.
The latest earnings results from Sonoco Products Company (NYSE: SON) was released for Jul, 2022. According to the Packaging & Containers Company, earnings per share came in at $1.76, beating analysts’ expectations of $1.6 by 0.16. This compares to $1.12 EPS in the same period last year. The net profit margin was 6.20% and return on equity was 22.80% for SON. The company reported revenue of $1.89 billion for the quarter, compared to $1.42 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 33.57 percent. For the current quarter, analysts expect SON to generate $1.9B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/09/2022. Investors who held shares on 11/10/2022 were paid a $0.49 dividend. On an annualized basis, this represents a $1.96 dividend and a 3.28% percent yield. There was an ex-dividend date of 11/09/2022 for this dividend. In terms of dividend payout ratio, SON is presently at 42.40%.
Sonoco Products Company(SON) Company Profile
Sonoco Products Company, together with its subsidiaries, manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through two segments: Consumer Packaging and Industrial Paper Packaging. The Consumer Packaging segment round and shaped rigid paper containers; metal and peelable membrane ends and closures; thermoformed plastic trays and containers; printed flexible packaging; and global brand artwork management. The Industrial Paper Packaging segment provides fiber-based tubes, cones, and cores; fiber-based construction tubes; fiber-based protective packaging and components; wooden, metal, and composite wire and cable, as well as reels and spools; and recycled paperboard, corrugating medium, recovered paper, and material recycling services. Sonoco Products Company offers thermoformed rigid plastic trays and devices; custom-engineered molded foam protective packaging and components; temperature-assured packaging; injection molded and extruded containers, spools, and parts; retail security packaging, including printed backer cards, thermoformed blisters, and heat-sealing equipment; and paper amenities. The company sells its products in various markets, which include paper, textile, film, food, chemical, packaging, construction, and wire and cable. Sonoco Products Company was founded in 1899 and is headquartered in Hartsville, South Carolina.