Sonoco Products Co. (SON) Receives $45.17 Average Price Target from Analysts
Shares of Sonoco Products Co. (NYSE:SON) have been assigned a consensus rating of “Hold” from the eleven analysts that are covering the company. Five research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $45.17.
A number of research firms have commented on SON. Jefferies Group restated a “hold” rating and set a $47.00 target price (up previously from $46.00) on shares of Sonoco Products in a research note on Monday, October 24th. Vertical Research upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Monday, October 24th. Zacks Investment Research cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Finally, Bank of America Corp. cut shares of Sonoco Products from a “neutral” rating to an “underperform” rating in a research report on Monday, October 3rd. They noted that the move was a valuation call.
In related news, Director John E. Linville sold 54,000 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $50.46, for a total value of $2,724,840.00. Following the completion of the transaction, the director now directly owns 223,787 shares of the company’s stock, valued at $11,292,292.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP R. Howard Coker sold 1,390 shares of the firm’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $49.65, for a total transaction of $69,013.50. Following the completion of the transaction, the vice president now directly owns 159,340 shares of the company’s stock, valued at $7,911,231. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. AMP Capital Investors Ltd raised its position in Sonoco Products by 6.8% in the first quarter. AMP Capital Investors Ltd now owns 40,841 shares of the company’s stock valued at $1,989,000 after buying an additional 2,600 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Sonoco Products by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 27,031 shares of the company’s stock valued at $1,313,000 after buying an additional 716 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Sonoco Products by 2.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 91,499 shares of the company’s stock valued at $4,444,000 after buying an additional 2,607 shares during the last quarter. BlueMountain Capital Management LLC raised its position in Sonoco Products by 400.4% in the first quarter. BlueMountain Capital Management LLC now owns 16,569 shares of the company’s stock valued at $805,000 after buying an additional 13,258 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Sonoco Products by 5.1% in the second quarter. BNP Paribas Arbitrage SA now owns 48,483 shares of the company’s stock valued at $2,408,000 after buying an additional 2,364 shares during the last quarter. 69.47% of the stock is owned by hedge funds and other institutional investors.
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Shares of Sonoco Products (NYSE:SON) opened at 54.13 on Monday. Sonoco Products has a 52 week low of $36.56 and a 52 week high of $55.47. The stock has a market cap of $5.40 billion, a PE ratio of 23.33 and a beta of 1.03. The stock has a 50 day moving average of $51.56 and a 200-day moving average of $50.53.
Sonoco Products (NYSE:SON) last released its earnings results on Thursday, October 20th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Sonoco Products had a net margin of 4.84% and a return on equity of 17.84%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business earned $0.65 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Equities research analysts predict that Sonoco Products will post $2.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 11th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is presently 63.52%.
Sonoco Products Company Profile
Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products and a provider of packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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