Sonoco Products Co (NYSE:SON) announced a quarterly dividend on Monday, October 15th, RTT News reports. Shareholders of record on Friday, November 9th will be given a dividend of 0.41 per share by the industrial products company on Monday, December 10th. This represents a $1.64 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, November 8th.
Sonoco Products has increased its dividend by an average of 6.6% annually over the last three years and has raised its dividend every year for the last 37 years. Sonoco Products has a dividend payout ratio of 49.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sonoco Products to earn $3.52 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 46.6%.
NYSE SON opened at $56.06 on Wednesday. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 3.55 and a beta of 0.98. Sonoco Products has a 52 week low of $46.55 and a 52 week high of $58.69. The company has a current ratio of 1.66, a quick ratio of 1.19 and a debt-to-equity ratio of 0.72.
Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 18th. The industrial products company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.06. Sonoco Products had a net margin of 4.53% and a return on equity of 18.42%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm earned $0.76 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. On average, analysts anticipate that Sonoco Products will post 3.32 earnings per share for the current fiscal year.
In other news, VP Marcy J. Thompson sold 693 shares of the stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $55.00, for a total value of $38,115.00. Following the sale, the vice president now directly owns 15,410 shares of the company’s stock, valued at $847,550. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.
A number of equities research analysts have recently issued reports on SON shares. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Thursday, October 18th. Zacks Investment Research raised shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, September 18th. Barclays increased their price target on shares of Sonoco Products from $55.00 to $58.00 and gave the stock a “$56.02” rating in a report on Monday, July 23rd. Finally, DA Davidson increased their price target on shares of Sonoco Products to $57.00 and gave the stock a “neutral” rating in a report on Friday, July 20th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $59.00.
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Sonoco Products 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.
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