2 weeks Ago By ABMN Staff
Sonoco Products ( NYSE:SON – Free Report ) had its price objective lowered by Truist Financial from $60.00 to $54.00 in a research report sent to investors on Tuesday, Benzinga reports.
The brokerage currently has a buy rating on the industrial products company’s stock. Other equities analysts also recently issued research reports about the company. Bank of America upped their price target on Sonoco Products from $66.
00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Citigroup reduced their target price on shares of Sonoco Products from $59.
00 to $55.00 and set a “buy” rating for the company in a report on Monday, January 6th. Jefferies Financial Group began coverage on shares of Sonoco Products in a research note on Tuesday.
They issued a “buy” rating and a $62.00 price target on the stock. StockNews.
com upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their target price on Sonoco Products from $50.00 to $48.
00 and set an “underweight” rating on the stock in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sonoco Products has an average rating of “Moderate Buy” and an average price target of $56.
43. View Our Latest Report on SON Sonoco Products Stock Up 2.4 % Sonoco Products ( NYSE:SON – Get Free Report ) last released its earnings results on Tuesday, February 18th.
The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.
01). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.
67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.
60%. On average, equities research analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.
Sonoco Products Increases Dividend The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a dividend of $0.53 per share.
The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.12 dividend on an annualized basis and a yield of 4.
57%. This is a boost from Sonoco Products’s previous quarterly dividend of $0.52.
Sonoco Products’s dividend payout ratio (DPR) is presently 128.48%. Insider Buying and Selling at Sonoco Products In related news, CEO R.
Howard Coker acquired 20,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $46.10 per share, with a total value of $922,000.
00. Following the completion of the transaction, the chief executive officer now directly owns 482,365 shares of the company’s stock, valued at $22,237,026.50.
This trade represents a 4.33 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website .
Also, Director John R. Haley bought 3,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $46.
76 per share, with a total value of $140,280.00. Following the acquisition, the director now directly owns 18,558 shares in the company, valued at $867,772.
08. This trade represents a 19.28 % increase in their position.
The disclosure for this purchase can be found here . Corporate insiders own 0.74% of the company’s stock.
Hedge Funds Weigh In On Sonoco Products Large investors have recently made changes to their positions in the company. UMB Bank n.a.
grew its holdings in Sonoco Products by 152.7% in the 1st quarter. UMB Bank n.
a. now owns 950 shares of the industrial products company’s stock valued at $45,000 after buying an additional 574 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Sonoco Products by 90.
6% in the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 453 shares during the period. Quarry LP grew its stake in shares of Sonoco Products by 111.
3% in the fourth quarter. Quarry LP now owns 970 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 511 shares in the last quarter. True Wealth Design LLC increased its position in Sonoco Products by 650.
7% during the fourth quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 950 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Sonoco Products in the 3rd quarter valued at about $71,000.
Institutional investors own 77.69% of the company’s stock. 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. Featured Stories 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.
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