Sonoco Products (SON) Declares $0.51 Dividend

Sonoco Products said on April 19, 2023 that its board of directors declared a regular quarterly dividend of $0.51 per share ($2.04 annualized). Previously, the company paid $0.49 per share.

Shares must be purchased before the ex-div date of May 9, 2023 to qualify for the dividend. Shareholders of record as of May 10, 2023 will receive the payment on June 9, 2023.

At the current share price of $62.40 / share, the stock's dividend yield is 3.27%. Looking back five years and taking a sample every week, the average dividend yield has been 3.05%, the lowest has been 2.60%, and the highest has been 4.54%. The standard deviation of yields is 0.27 (n=236).

The current dividend yield is 0.81 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.41. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 866 funds or institutions reporting positions in Sonoco Products. This is an increase of 16 owner(s) or 1.88% in the last quarter. Average portfolio weight of all funds dedicated to SON is 0.17%, a decrease of 6.44%. Total shares owned by institutions increased in the last three months by 1.62% to 85,982K shares. The put/call ratio of SON is 0.59, indicating a bullish outlook.

Analyst Price Forecast Suggests 7.88% Upside

As of April 6, 2023, the average one-year price target for Sonoco Products is $67.32. The forecasts range from a low of $57.57 to a high of $79.80. The average price target represents an increase of 7.88% from its latest reported closing price of $62.40.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Sonoco Products is $7,480MM, an increase of 3.16%. The projected annual non-GAAP EPS is $5.84.

What are Other Shareholders Doing?

BBMC - JPMorgan BetaBuilders U.S. Mid Cap Equity ETF holds 45K shares representing 0.05% ownership of the company. In it's prior filing, the firm reported owning 48K shares, representing a decrease of 6.57%. The firm decreased its portfolio allocation in SON by 9.90% over the last quarter.

Rockefeller Capital Management holds 24K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 24K shares, representing a decrease of 3.08%. The firm increased its portfolio allocation in SON by 100,845.45% over the last quarter.

ESML - iShares ESG MSCI USA Small-Cap ETF holds 29K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 28K shares, representing an increase of 2.52%. The firm decreased its portfolio allocation in SON by 4.75% over the last quarter.

GCEQX - GREEN CENTURY EQUITY FUND Individual Investor Class holds 3K shares representing 0.00% ownership of the company. No change in the last quarter.

Ameriprise Financial holds 145K shares representing 0.15% ownership of the company. In it's prior filing, the firm reported owning 154K shares, representing a decrease of 5.98%. The firm decreased its portfolio allocation in SON by 4.93% over the last quarter.

Sonoco Products Background Information
(This description is provided by the company.)

Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of approximately $5.4 billion, the Company has 23,000 employees working in approximately 300 operations in 36 countries, serving some of the world’s best known brands in some 85 nations. Sonoco is committed to creating sustainable products, services and programs for our customers, employees and communities that support its corporate purpose of Better Packaging. Better Life. The Company ranked first in the Packaging sector on Fortune’s World’s Most Admired Companies for 2020 as well as Barron’s 100 Most Sustainable Companies.

This story originally appeared on Fintel.