Sonoco Products Co. (SON) Sets New 1-Year High at $52.65
Sonoco Products Co. (NYSE:SON)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $52.65 and last traded at $52.37, with a volume of 180,010 shares. The stock had previously closed at $51.80.
A number of equities analysts recently issued reports on the stock. Deutsche Bank AG set a $42.00 price objective on shares of Sonoco Products and gave the stock a “hold” rating in a report on Sunday, July 24th. Barclays PLC lifted their price target on shares of Sonoco Products from $40.00 to $44.00 and gave the company an “underweight” rating in a report on Monday, July 25th. Jefferies Group reaffirmed a “hold” rating on shares of Sonoco Products in a report on Tuesday, May 24th. Goldman Sachs Group Inc. initiated coverage on shares of Sonoco Products in a report on Thursday, May 12th. They set a “neutral” rating and a $50.00 price target on the stock. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $46.00 price target on shares of Sonoco Products in a report on Friday, July 22nd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $45.78.
The stock’s 50 day moving average is $51.31 and its 200-day moving average is $48.23. The company has a market cap of $5.27 billion and a PE ratio of 24.93.
Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.05. During the same quarter last year, the company earned $0.68 EPS. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. The business’s revenue was down 3.4% compared to the same quarter last year. On average, equities analysts expect that Sonoco Products Co. will post $2.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 12th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $1.48 annualized dividend and a yield of 2.81%.
In related news, CEO Mancil J. Sanders sold 16,254 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $52.00, for a total value of $845,208.00. Following the transaction, the chief executive officer now owns 187,296 shares in the company, valued at approximately $9,739,392. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Marcy J. Thompson sold 533 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $48.00, for a total transaction of $25,584.00. Following the completion of the transaction, the vice president now owns 8,590 shares in the company, valued at approximately $412,320. 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.
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