The stock of Sonoco Products Co (NYSE:SON) is a huge mover today! The stock decreased 3.76% or $1.99 during the last trading session, hitting $50.87. About 718,544 shares traded hands or 76.07% up from the average. Sonoco Products Co (NYSE:SON) has risen 15.17% since March 1, 2016 and is uptrending. It has outperformed by 2.95% the S&P500.
The move comes after 5 months negative chart setup for the $5.13 billion company. It was reported on Oct, 4 by Barchart.com. We have $46.29 PT which if reached, will make NYSE:SON worth $461.70M less.
Analysts await Sonoco Products Co (NYSE:SON) to report earnings on October, 19. They expect $0.68 EPS, up 4.62% or $0.03 from last year’s $0.65 per share. SON’s profit will be $68.57 million for 18.70 P/E if the $0.68 EPS becomes a reality. After $0.73 actual EPS reported by Sonoco Products Co for the previous quarter, Wall Street now forecasts -6.85% negative EPS growth.
Sonoco Products Co (NYSE:SON) Ratings Coverage
Out of 9 analysts covering Sonoco Products Company (NYSE:SON), 1 rate it a “Buy”, 4 “Sell”, while 4 “Hold”. This means 11% are positive. Sonoco Products Company has been the topic of 15 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of Sonoco Products Co (NYSE:SON) earned “Neutral” rating by Bank of America on Friday, March 18. As per Monday, December 7, the company rating was downgraded by Barclays Capital. The stock of Sonoco Products Co (NYSE:SON) has “Hold” rating given on Tuesday, August 25 by Zacks. The stock of Sonoco Products Co (NYSE:SON) has “Sell” rating given on Monday, September 7 by Zacks. The stock has “Sell” rating given by Zacks on Tuesday, September 1. The company was downgraded on Monday, April 11 by DA Davidson. The stock of Sonoco Products Co (NYSE:SON) earned “Outperform” rating by Macquarie Research on Monday, November 23. Goldman Sachs initiated the shares of SON in a report on Thursday, May 12 with “Neutral” rating. Vertical Research downgraded the shares of SON in a report on Friday, July 22 to “Sell” rating. The firm earned “Sell” rating on Friday, August 7 by Zacks.
According to Zacks Investment Research, “Sonoco is one of the world’s largest manufacturers of packaging materials for industrial and consumer markets. In addition, the company is one of the leading producers of recycled paperboard, utilizing more than a million tons of recovered paper annually in its papermaking operations. Sonoco products are used by many of the world’s leading industries, including food processing, beverages, textiles, supermarkets, plastics, papermaking, pharmaceuticals, material converting, material handling, agriculture, personal care, health care and many others.”
Insitutional Activity: The institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.13, from 1 in 2016Q1. The ratio improved, as 27 funds sold all Sonoco Products Co shares owned while 100 reduced positions. 24 funds bought stakes while 120 increased positions. They now own 68.56 million shares or 4.29% less from 71.64 million shares in 2016Q1.
Nuveen Asset Mgmt Lc has 41,221 shares for 0.01% of their US portfolio. Parametric Portfolio Limited Liability Corporation has 212,006 shares for 0.02% of their US portfolio. High Point State Bank Tru last reported 15,289 shares in the company. Moreover, Blackrock Mngmt Limited Liability Company has 0.02% invested in Sonoco Products Co (NYSE:SON) for 335,954 shares. Waddell And Reed Fincl reported 93,270 shares or 0.01% of all its holdings. Alliancebernstein Ltd Partnership holds 78,892 shares or 0% of its portfolio. Checchi Cap Advisers Llc accumulated 416 shares or 0% of the stock. Utah Retirement System last reported 17,983 shares in the company. Argyle Capital reported 43,049 shares or 0.91% of all its holdings. Bbva Compass Bankshares holds 0.02% or 4,585 shares in its portfolio. Leavell Invest Mgmt owns 5,000 shares or 0.04% of their US portfolio. Cantab Capital Prtn Ltd Liability Partnership, a United Kingdom-based fund reported 7,747 shares. Moreover, Rhumbline Advisers has 0.03% invested in Sonoco Products Co (NYSE:SON) for 221,068 shares. Ahl Prtn Llp holds 0.15% of its portfolio in Sonoco Products Co (NYSE:SON) for 57,090 shares. Retail Bank Of America Corporation De accumulated 0.03% or 2.34M shares.
Insider Transactions: Since April 22, 2016, the stock had 0 insider purchases, and 19 insider sales for $5.81 million net activity. 20,000 shares with value of $1.02M were sold by LAWTON EDGAR H III on Thursday, August 4. Another trade for 1,000 shares valued at $49,000 was sold by Harrell James A. III. On Monday, July 25 the insider SCHRUM ROGER P sold $38,923. Coker R. Howard sold $442,608 worth of stock or 9,320 shares. 167 shares were sold by BOND RITCHIE L, worth $8,587 on Friday, July 22. $178,083 worth of Sonoco Products Co (NYSE:SON) was sold by Fuller Rodger D. Thompson Marcy J sold $25,584 worth of stock or 533 shares.
More recent Sonoco Products Co (NYSE:SON) news were published by: Zacks.com which released: “Sonoco (SON) Announces Hike in Price for URB Products” on September 16, 2016. Also Twst.com published the news titled: “Sonoco Products Co.: Sonoco ThermoSafe Acquires Laminar Medica Group” on September 20, 2016. Plasticsnews.com‘s news article titled: “Sonoco selling blow molding operations to Amcor” with publication date: September 02, 2016 was also an interesting one.
SON Company Profile
Sonoco Products Company (Sonoco), incorporated on May 10, 1899, is a maker of industrial and consumer packaging products and a well-known provider of packaging services. The Firm operates in four divisions: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. The Firm has approximately 330 locations in over 30 countries.
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