$1.42 Billion in Sales Expected for Sonoco Products Co (SON) This Quarter

Equities research analysts expect Sonoco Products Co (NYSE:SON) to announce sales of $1.42 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Sonoco Products’ earnings, with the highest sales estimate coming in at $1.47 billion and the lowest estimate coming in at $1.39 billion. Sonoco Products posted sales of $1.37 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The company is expected to announce its next earnings report on Thursday, July 18th.

According to Zacks, analysts expect that Sonoco Products will report full year sales of $5.55 billion for the current financial year, with estimates ranging from $5.50 billion to $5.64 billion. For the next year, analysts expect that the company will post sales of $5.62 billion, with estimates ranging from $5.50 billion to $5.75 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Sonoco Products.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, April 18th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.05. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. Sonoco Products had a return on equity of 19.57% and a net margin of 5.76%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS.

SON has been the subject of a number of recent research reports. Argus upgraded Sonoco Products from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Wednesday, April 24th. Wells Fargo & Co set a $58.00 target price on Sonoco Products and gave the stock a “hold” rating in a research report on Monday, April 22nd. KeyCorp restated a “hold” rating on shares of Sonoco Products in a research report on Sunday, April 21st. Finally, Vertical Research downgraded Sonoco Products from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Sonoco Products has a consensus rating of “Hold” and a consensus price target of $59.40.

In other Sonoco Products news, VP Roger P. Schrum sold 812 shares of Sonoco Products stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total value of $50,547.00. Following the transaction, the vice president now directly owns 7,938 shares of the company’s stock, valued at approximately $494,140.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rodger D. Fuller sold 5,085 shares of Sonoco Products stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $60.25, for a total value of $306,371.25. Following the completion of the transaction, the senior vice president now directly owns 72,978 shares in the company, valued at $4,396,924.50. The disclosure for this sale can be found here. Insiders sold a total of 13,500 shares of company stock valued at $825,196 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Sonoco Products by 3.1% during the fourth quarter. BlackRock Inc. now owns 11,331,928 shares of the industrial products company’s stock valued at $602,065,000 after buying an additional 336,758 shares during the period. Vanguard Group Inc increased its stake in shares of Sonoco Products by 1.6% during the third quarter. Vanguard Group Inc now owns 9,461,054 shares of the industrial products company’s stock valued at $525,089,000 after buying an additional 149,108 shares during the period. American Century Companies Inc. increased its stake in shares of Sonoco Products by 7.8% during the fourth quarter. American Century Companies Inc. now owns 3,199,869 shares of the industrial products company’s stock valued at $170,009,000 after buying an additional 232,148 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Sonoco Products by 5,213.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,066,704 shares of the industrial products company’s stock valued at $39,000 after buying an additional 2,027,805 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Sonoco Products by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,867,030 shares of the industrial products company’s stock valued at $114,877,000 after buying an additional 76,490 shares during the period. 73.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of SON opened at $62.31 on Monday. The stock has a market cap of $6.33 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 3.79 and a beta of 1.01. The company has a quick ratio of 0.91, a current ratio of 1.36 and a debt-to-equity ratio of 0.66. Sonoco Products has a 12-month low of $50.30 and a 12-month high of $64.46.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $0.43 dividend. This is an increase from Sonoco Products’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, May 9th. This represents a $1.72 dividend on an annualized basis and a yield of 2.76%. Sonoco Products’s payout ratio is presently 51.04%.

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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