Sonoco Products (NYSE:SON) Coverage Initiated by Analysts at UBS Group

UBS Group began coverage on shares of Sonoco Products (NYSE:SON) in a research note issued to investors on Thursday, Benzinga reports. The firm issued a neutral rating and a $66.00 price target on the industrial products company’s stock.

Several other equities analysts have also commented on the company. KeyCorp reaffirmed a hold rating on shares of Sonoco Products in a research note on Thursday, July 16th. TheStreet raised Sonoco Products from a c+ rating to a b- rating in a research note on Wednesday, June 17th. Argus lowered Sonoco Products from a buy rating to a hold rating in a research note on Tuesday, August 4th. Zacks Investment Research lowered Sonoco Products from a hold rating to a sell rating and set a $52.00 target price on the stock. in a research note on Friday, May 22nd. Finally, Wells Fargo & Company raised Sonoco Products from an equal weight rating to an overweight rating and increased their target price for the stock from $48.00 to $60.00 in a research note on Thursday, May 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Sonoco Products currently has an average rating of Hold and an average target price of $56.00.

Shares of NYSE:SON opened at $52.20 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.42 and a debt-to-equity ratio of 0.90. The business has a fifty day moving average of $53.61 and a two-hundred day moving average of $50.48. The stock has a market cap of $5.24 billion, a P/E ratio of 19.41, a PEG ratio of 3.27 and a beta of 0.79. Sonoco Products has a 52-week low of $37.30 and a 52-week high of $62.77.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, July 16th. The industrial products company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.02. Sonoco Products had a return on equity of 19.35% and a net margin of 5.23%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The company’s quarterly revenue was down 8.4% on a year-over-year basis. On average, equities analysts anticipate that Sonoco Products will post 3.27 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were issued a $0.43 dividend. The ex-dividend date was Friday, August 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.30%. Sonoco Products’s payout ratio is currently 48.73%.

In other news, EVP Rodger D. Fuller sold 5,638 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $54.95, for a total value of $309,808.10. Following the transaction, the executive vice president now owns 73,674 shares in the company, valued at approximately $4,048,386.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in Sonoco Products by 4.1% during the 2nd quarter. Bank of America Corp DE now owns 2,074,687 shares of the industrial products company’s stock worth $108,485,000 after buying an additional 82,333 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Sonoco Products by 42.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,324,081 shares of the industrial products company’s stock worth $69,237,000 after buying an additional 397,025 shares during the last quarter. Geode Capital Management LLC grew its stake in Sonoco Products by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 1,152,252 shares of the industrial products company’s stock worth $53,406,000 after buying an additional 33,568 shares during the last quarter. APG Asset Management N.V. grew its stake in Sonoco Products by 39.3% during the 1st quarter. APG Asset Management N.V. now owns 1,092,800 shares of the industrial products company’s stock worth $59,883,000 after buying an additional 308,157 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Sonoco Products by 429.1% during the 1st quarter. Janus Henderson Group PLC now owns 625,333 shares of the industrial products company’s stock worth $28,984,000 after buying an additional 507,150 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Sonoco Products

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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Analyst Recommendations for Sonoco Products (NYSE:SON)

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