Sonoco Products Co. (SON) Receives $45.17 Average Price Target from Analysts
Sonoco Products Co. (NYSE:SON) has received an average rating of “Hold” from the eleven ratings firms that are presently covering the stock. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $45.17.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research cut Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Vertical Research upgraded Sonoco Products from a “sell” rating to a “hold” rating in a report on Monday, October 24th. Bank of America Corp. cut Sonoco Products from a “neutral” rating to an “underperform” rating in a report on Monday, October 3rd. They noted that the move was a valuation call. Finally, Jefferies Group reiterated a “hold” rating and set a $47.00 price target (up from $46.00) on shares of Sonoco Products in a report on Monday, October 24th.
In other news, Director John E. Linville sold 54,000 shares of Sonoco Products stock in a transaction dated Monday, November 7th. The stock was 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 owns 223,787 shares in the company, valued at approximately $11,292,292.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP R. Howard Coker sold 1,390 shares of Sonoco Products stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $49.65, for a total value of $69,013.50. Following the completion of the transaction, the vice president now owns 159,340 shares of the company’s stock, valued at approximately $7,911,231. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. AMP Capital Investors Ltd boosted its position in shares of 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. boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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. Institutional investors and hedge funds own 69.47% of the company’s stock.
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Sonoco Products (NYSE:SON) opened at 54.13 on Monday. Sonoco Products has a one year low of $36.56 and a one year high of $55.47. The firm has a 50-day moving average of $51.56 and a 200-day moving average of $50.53. The company has a market capitalization of $5.40 billion, a P/E ratio of 23.33 and a beta of 1.03.
Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business earned $1.21 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Sonoco Products had a return on equity of 17.84% and a net margin of 4.84%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. On average, analysts anticipate that Sonoco Products will post $2.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 11th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Tuesday, November 8th. Sonoco Products’s payout ratio is presently 63.52%.
About Sonoco Products
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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