Sonoco Products Co. (SON) Sets New 52-Week High at $52.00
Shares of Sonoco Products Co. (NYSE:SON) hit a new 52-week high during trading on Tuesday . The stock traded as high as $52.00 and last traded at $51.77, with a volume of 136,235 shares. The stock had previously closed at $51.54.
Several analysts recently commented on the company. Jefferies Group raised their price objective on Sonoco Products from $42.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Barclays PLC raised their price objective on Sonoco Products from $40.00 to $44.00 and gave the stock an “underweight” rating in a research note on Monday, July 25th. Vertical Group downgraded Sonoco Products from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Zacks Investment Research raised Sonoco Products from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Finally, Deutsche Bank AG set a $42.00 price objective on Sonoco Products and gave the stock a “hold” rating in a research note on Sunday, July 24th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.78.
The company has a market capitalization of $5.15 billion and a P/E ratio of 24.33. The firm’s 50-day moving average is $51.17 and its 200 day moving average is $47.80.
Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.05. The business earned $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $0.68 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts expect that Sonoco Products Co. will post $2.72 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 2.88%.
In related news, VP James A. Harrell III sold 1,000 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $49.00, for a total value of $49,000.00. Following the sale, the vice president now owns 4,811 shares of the company’s stock, valued at $235,739. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Marcy J. Thompson sold 533 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 8,590 shares in the company, valued at approximately $412,320. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Sonoco Products stock. Bank of Montreal Can boosted its position in shares of Sonoco Products Co. (NYSE:SON) by 13.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 51,200 shares of the company’s stock after buying an additional 6,087 shares during the period. Bank of Montreal Can owned approximately 0.05% of Sonoco Products worth $2,093,000 as of its most recent SEC filing.
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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