Vertical Research Downgrades Sonoco (SON) to Hold

Vertical Research lowered shares of Sonoco (NYSE:SON) from a buy rating to a hold rating in a research report released on Friday.

SON has been the topic of several other research reports. TheStreet lowered Sonoco from a b rating to a c+ rating in a research note on Friday, February 16th. KeyCorp reissued a hold rating on shares of Sonoco in a research note on Thursday, April 19th. Zacks Investment Research lowered Sonoco from a buy rating to a hold rating in a research note on Wednesday, February 14th. Bank of America lowered Sonoco from a buy rating to a neutral rating and set a $59.00 price target on the stock. in a research note on Monday, April 2nd. Finally, UBS assumed coverage on Sonoco in a research note on Friday, April 13th. They set a buy rating and a $55.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $53.86.

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Shares of SON opened at $51.83 on Friday. Sonoco has a twelve month low of $46.55 and a twelve month high of $55.77. The company has a market capitalization of $5,148.47, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 3.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.16 and a current ratio of 1.61.

Sonoco (NYSE:SON) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). Sonoco had a net margin of 3.79% and a return on equity of 17.02%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the firm posted $0.62 EPS. Sonoco’s revenue for the quarter was up 13.7% compared to the same quarter last year. analysts expect that Sonoco will post 3.29 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 11th will be paid a dividend of $0.41 per share. This is a positive change from Sonoco’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $1.64 annualized dividend and a dividend yield of 3.16%. Sonoco’s payout ratio is 55.91%.

Several large investors have recently made changes to their positions in SON. Columbus Macro LLC acquired a new position in shares of Sonoco during the 4th quarter worth approximately $4,810,000. First Trust Advisors LP raised its position in shares of Sonoco by 12.3% during the 4th quarter. First Trust Advisors LP now owns 775,642 shares of the industrial products company’s stock worth $41,218,000 after purchasing an additional 84,665 shares during the last quarter. Impax Asset Management LTD raised its position in shares of Sonoco by 22.1% during the 4th quarter. Impax Asset Management LTD now owns 410,210 shares of the industrial products company’s stock worth $21,799,000 after purchasing an additional 74,210 shares during the last quarter. Capital Analysts LLC acquired a new position in shares of Sonoco during the 4th quarter worth approximately $7,752,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Sonoco during the 4th quarter worth approximately $3,342,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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Sonoco Company Profile

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.

Analyst Recommendations for Sonoco (NYSE:SON)

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