Sonoco Products Co (SON) to Distribute Quarterly Dividend of $0.43 on September 10th

Sonoco Products Co (NYSE:SON) declared a quarterly dividend on Monday, July 15th, RTT News reports. Investors of record on Friday, August 9th will be paid a dividend of 0.43 per share by the industrial products company on Tuesday, September 10th. This represents a $1.72 annualized dividend and a yield of 2.69%.

Sonoco Products has raised its dividend by an average of 5.7% per year over the last three years and has raised its dividend every year for the last 38 years. Sonoco Products has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Sonoco Products to earn $3.70 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 46.5%.

Shares of Sonoco Products stock traded down $0.26 during trading hours on Wednesday, hitting $63.90. The company’s stock had a trading volume of 11,927 shares, compared to its average volume of 360,912. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.91 and a current ratio of 1.36. The company has a market cap of $6.45 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 3.85 and a beta of 0.94. Sonoco Products has a twelve month low of $50.30 and a twelve month high of $66.57. The company’s fifty day simple moving average is $64.80.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, April 18th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Sonoco Products had a return on equity of 19.57% and a net margin of 5.76%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the firm posted $0.74 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts predict that Sonoco Products will post 3.58 earnings per share for the current year.

In other Sonoco Products news, SVP R. Howard Coker sold 6,484 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $61.94, for a total value of $401,618.96. Following the completion of the sale, the senior vice president now owns 215,108 shares of the company’s stock, valued at approximately $13,323,789.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Roger P. Schrum sold 812 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $62.25, for a total transaction of $50,547.00. Following the completion of the transaction, the vice president now owns 7,938 shares of the company’s stock, valued at $494,140.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,381 shares of company stock worth $758,537. 1.30% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on SON. ValuEngine raised YY from a “sell” rating to a “hold” rating in a research report on Friday, June 7th. Bank of America set a $80.00 price objective on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Friday, July 12th. Goldman Sachs Group downgraded Metcash from a “conviction-buy” rating to a “neutral” rating in a research report on Monday, June 24th. BMO Capital Markets downgraded Sonoco Products from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $60.00 to $56.00 in a research report on Monday. Finally, KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a report on Sunday, April 21st. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $58.86.

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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Dividend History for Sonoco Products (NYSE:SON)

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