Sonoco Products (NYSE: SON – Get a rating) saw its price target raised by Citigroup research analysts to $73.00 in a report on Monday, Target Stock Advisor reports. Citigroup’s price target indicates a potential upside of 17.01% from the stock’s previous close.
Several other analysts have also recently commented on SON. Seaport Res Ptn downgraded shares of Sonoco Products from a “buy” rating to a “neutral” rating in a Friday, April 22 report. Deutsche Bank Aktiengesellschaft raised its price target on Sonoco Products shares from $63.00 to $65.00 in a Monday, April 18 report. Wells Fargo & Company raised its price target on shares of Sonoco Products to $67.00 in a report released Friday. StockNews.com downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Wednesday, April 27. Finally, TheStreet upgraded Sonoco Products’ shares from a “c+” rating to a “b-” rating in a report released Thursday. One financial analyst has assigned the stock a sell rating, five have issued a hold rating and three have assigned the stock a buy rating. According to data from MarketBeat, Sonoco Products currently has an average rating of “Hold” and a consensus price target of $65.57.
Sonoco Product Inventory Performance
Shares of SON traded at $0.59 in midday trading on Monday, hitting $62.39. The stock recorded a trading volume of 11,704 shares, compared to an average volume of 575,171 shares. The company has a 50-day simple moving average of $57.50 and a 200-day simple moving average of $58.69. Sonoco Products has a one-year low of $51.52 and a one-year high of $67.06. The company has a market capitalization of $6.08 billion, a PE ratio of 14.61, a P/E/G ratio of 1.97 and a beta of 0.70. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt ratio of 1.41.
Sonoco Products (NYSE: SON – Get a rating) last reported quarterly earnings data on Thursday, July 21. The industrial products company reported EPS of $1.76 for the quarter, beating consensus analyst estimates of $1.67 by $0.09. The company posted revenue of $1.91 billion in the quarter, versus a consensus estimate of $1.91 billion. Sonoco Products had a net margin of 6.47% and a return on equity of 28.33%. The company’s quarterly revenue increased 38.4% year over year. In the same quarter last year, the company posted EPS of $0.84. As a group, sell-side analysts expect Sonoco Products to post EPS of 6.27 for the current year.
Insider buying and selling
In related news, COO Rodger D. Fuller sold 1,898 shares of the company in a transaction that took place on Friday, July 22. The shares were sold at an average price of $62.53, for a total transaction of $118,681.94. Following completion of the transaction, the COO now directly owns 83,818 shares of the company, valued at approximately $5,241,139.54. The transaction was disclosed in an SEC filing, which is available via the SEC website. 0.47% of the shares are held by insiders.
Institutional investors weigh in on Sonoco products
A number of institutional investors have recently increased or reduced their stake in the company. Jones Financial Companies Lllp bought a new position in Sonoco Products during the first quarter worth $145,000. Sei Investments Co. increased its holdings in Sonoco Products by 6.4% during the fourth quarter. Sei Investments Co. now owns 547,675 shares of the industrial products company worth $31,705,000 after purchasing an additional 32,925 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Sonoco Products during the fourth quarter worth $589,000. Dixon Hughes Goodman Wealth Advisors LLC increased its holdings in Sonoco Products by 400.0% in the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 1,750 shares of the industrial products company worth $109,000 after buying an additional 1,400 shares in the last quarter. Finally, Rockefeller Capital Management LP increased its stake in Sonoco Products by 25.5% during the fourth quarter. Rockefeller Capital Management LP now owns 41,583 shares of the industrial products company worth $2,407,000 after buying 8,462 additional shares in the last quarter. 77.06% of the shares are held by institutional investors.
Sonoco Products Company Profile
Sonoco Products Company, together with its subsidiaries, manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia and Asia. The Company operates through two segments: Consumer Packaging and Industrial Paper Packaging. The round and shaped rigid paper containers of the consumer packaging sector; metallic and peelable membrane ends and closures; thermoformed plastic trays and containers; printed flexible packaging; and overall brand artwork management.
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