Sonoco Products (NYSE:SON) Reaches New 52-Week Low – Should You Sell?

Shares of Sonoco Products (NYSE:SON) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $48.17 and last traded at $48.27, with a volume of 144539 shares trading hands. The stock had previously closed at $48.85.

Analysts Set New Price Targets

Several equities research analysts recently commented on SON shares. Robert W. Baird reduced their price target on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Citigroup increased their target price on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Truist Financial began coverage on Sonoco Products in a report on Tuesday, November 26th. They set a “buy” rating and a $63.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Sonoco Products has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Sonoco Products Trading Down 0.1 %

The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 2.14 and a beta of 0.67. The company has a fifty day moving average price of $50.68 and a 200-day moving average price of $52.02. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 earnings per share. On average, equities research analysts predict that Sonoco Products will post 5.09 EPS for the current year.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.34%. Sonoco Products’s dividend payout ratio (DPR) is currently 71.48%.

Institutional Investors Weigh In On Sonoco Products

A number of large investors have recently added to or reduced their stakes in SON. Kennebec Savings Bank acquired a new stake in shares of Sonoco Products in the third quarter worth $27,000. Capital Performance Advisors LLP bought a new position in Sonoco Products in the 3rd quarter worth $33,000. Abich Financial Wealth Management LLC acquired a new position in Sonoco Products during the 2nd quarter worth $50,000. Wilmington Savings Fund Society FSB bought a new stake in Sonoco Products during the third quarter valued at about $71,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Sonoco Products by 821.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 1,675 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

About Sonoco Products

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.