Sonoco Products Co. (SON) Reaches New 12-Month High at $52.65
Sonoco Products Co. (NYSE:SON)’s share price hit a new 52-week high on Friday . The company traded as high as $52.65 and last traded at $52.37, with a volume of 180,010 shares traded. The stock had previously closed at $51.80.
SON has been the topic of a number of recent analyst reports. Deutsche Bank AG set a $42.00 price target on Sonoco Products and gave the stock a “hold” rating in a research report on Sunday, July 24th. Zacks Investment Research raised Sonoco Products from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. BMO Capital Markets reissued a “hold” rating and set a $46.00 price target on shares of Sonoco Products in a research report on Friday, July 22nd. Jefferies Group reissued a “hold” rating on shares of Sonoco Products in a research report on Tuesday, May 24th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $50.00 price target on shares of Sonoco Products in a research report on Wednesday, June 1st. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $45.78.
The company has a market capitalization of $5.26 billion and a price-to-earnings ratio of 24.8930. The stock’s 50 day moving average is $51.31 and its 200 day moving average is $48.23.
Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business earned $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. On average, equities analysts predict that Sonoco Products Co. will post $2.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 12th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $1.48 dividend on an annualized basis and a yield of 2.86%.
In related news, VP Vicki B. Arthur sold 1,721 shares of Sonoco Products stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $51.00, for a total value of $87,771.00. Following the completion of the transaction, the vice president now directly owns 39,753 shares in the company, valued at approximately $2,027,403. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James A. Harrell III sold 1,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $49.00, for a total transaction of $49,000.00. Following the completion of the transaction, the vice president now owns 4,811 shares of the company’s stock, valued at $235,739. The disclosure for this sale can be found here.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.