The stock of Sonoco Products Co (NYSE:SON) hit a new 52-week high and has $90.80 target or 68.00% above today’s $54.05 share price. The 5 months bullish chart indicates low risk for the $5.43 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $90.80 price target is reached, the company will be worth $3.69 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 116,746 shares traded hands. Sonoco Products Co (NYSE:SON) has risen 10.08% since April 19, 2016 and is uptrending. It has outperformed by 6.22% the S&P500.
Sonoco Products Co (NYSE:SON) Ratings Coverage
Out of 9 analysts covering Sonoco Products Company (NYSE:SON), 1 rate it a “Buy”, 5 “Sell”, while 3 “Hold”. This means 11% are positive. Sonoco Products Company has been the topic of 16 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm has “Underperform” rating by DA Davidson given on Monday, April 11. As per Monday, September 7, the company rating was downgraded by Zacks. Macquarie Research initiated Sonoco Products Co (NYSE:SON) rating on Tuesday, November 10. Macquarie Research has “Neutral” rating and $42 price target. The rating was upgraded by Macquarie Research on Monday, November 23 to “Outperform”. The company was reinitiated on Monday, November 16 by Deutsche Bank. The rating was upgraded by Zacks on Tuesday, September 1 to “Sell”. As per Thursday, July 14, the company rating was maintained by Jefferies. On Monday, December 7 the stock rating was downgraded by Barclays Capital to “Underweight”. The firm has “Sell” rating by Zacks given on Friday, August 7. The firm earned “Sell” rating on Friday, July 22 by Vertical Research.
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 decreased to 0.89 in 2016 Q2. Its down 0.24, from 1.13 in 2016Q1. The ratio turned negative, 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.
Silvercrest Asset Mgmt Grp Inc Limited Liability holds 325,426 shares or 0.21% of its portfolio. Spot Trading Limited Co accumulated 0% or 275 shares. The Pennsylvania-based Cookson Peirce Incorporated has invested 0.92% in Sonoco Products Co (NYSE:SON). Jpmorgan Chase & has invested 0% of its portfolio in Sonoco Products Co (NYSE:SON). Moreover, Comml Bank has 0.06% invested in Sonoco Products Co (NYSE:SON) for 74,193 shares. Wedge Cap L Limited Partnership Nc accumulated 9,669 shares or 0% of the stock. Suntrust Banks Incorporated last reported 0.02% of its portfolio in the stock. James Investment Research Inc holds 154,205 shares or 0.19% of its portfolio. Gateway Investment Advisers Limited Liability last reported 0.07% of its portfolio in the stock. Panagora Asset last reported 45,790 shares in the company. Guggenheim Cap Ltd Limited Liability Company has 423,165 shares for 0.07% of their US portfolio. Cetera Advisor Ntwk Lc reported 7,280 shares or 0.02% of all its holdings. Rowland And Company Invest Counsel Adv last reported 47,253 shares in the company. Leavell Mgmt holds 5,000 shares or 0.04% of its portfolio. The North Carolina-based Boys Arnold And has invested 0.05% in Sonoco Products Co (NYSE:SON).
Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 19 selling transactions for $7.96 million net activity. $1.74 million worth of Sonoco Products Co (NYSE:SON) was sold by Linville John E on Friday, July 22. 167 Sonoco Products Co (NYSE:SON) shares with value of $8,587 were sold by BOND RITCHIE L. Harrell James A. III also sold $49,000 worth of Sonoco Products Co (NYSE:SON) shares. ARTHUR VICKI B had sold 1,721 shares worth $87,771. 9,009 shares were sold by Saunders Barry L, worth $429,075 on Tuesday, May 31. LAWTON EDGAR H III sold 20,000 shares worth $1.02M. McLeland Allan H sold 5,875 shares worth $293,750.
More recent Sonoco Products Co (NYSE:SON) news were published by: Profitconfidential.com which released: “SON Stock: 3 Reasons to Be Bullish on Sonoco Products Co” on July 18, 2016. Also Plasticsnews.com published the news titled: “Sonoco Products buys flexible packaging converter” on November 02, 2016. Nasdaq.com‘s news article titled: “Sonoco Products Company (SON) Ex-Dividend Date Scheduled for November 08, 2016” with publication date: November 07, 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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