Sonoco Products (NYSE:SON) Director John R. Haley Buys 3,000 Shares

Sonoco Products (NYSE:SON) Director John R. Haley bought 3,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $46.76 per share, with a total value of $140,280.00. Following the acquisition, the director now owns 18,558 shares of the company’s stock, valued at $867,772.08. The trade was a 19.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Sonoco Products Stock Down 0.7 %

Shares of NYSE SON opened at $46.57 on Friday. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67. The company’s 50-day simple moving average is $47.84 and its 200-day simple moving average is $50.95. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. Sonoco Products has a 52-week low of $44.35 and a 52-week high of $61.73.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.67 billion. Equities analysts predict that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a yield of 4.47%. Sonoco Products’s payout ratio is currently 126.06%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SON shares. Truist Financial dropped their target price on Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Citigroup decreased their target price on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Bank of America raised their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Robert W. Baird dropped their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Sonoco Products has a consensus rating of “Hold” and an average target price of $58.50.

Institutional Investors Weigh In On Sonoco Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning boosted its position in Sonoco Products by 4.3% during the third quarter. Creative Planning now owns 11,435 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 473 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Sonoco Products by 18.1% during the 3rd quarter. Raymond James & Associates now owns 121,583 shares of the industrial products company’s stock worth $6,642,000 after purchasing an additional 18,648 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Sonoco Products by 5,363.0% in the third quarter. International Assets Investment Management LLC now owns 13,275 shares of the industrial products company’s stock valued at $725,000 after purchasing an additional 13,032 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sonoco Products by 3.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 55,948 shares of the industrial products company’s stock valued at $3,056,000 after purchasing an additional 1,962 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Sonoco Products by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 11,351 shares of the industrial products company’s stock worth $620,000 after buying an additional 770 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

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.