The stock of Sonoco Products Co (NYSE:SON) reached all time high today, Nov, 22 and still has $56.77 target or 5.00% above today’s $54.07 share price. This indicates more upside for the $5.44B company. This technical setup was reported by Barchart.com. If the $56.77 PT is reached, the company will be worth $272.00M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 133,101 shares traded hands. Sonoco Products Co (NYSE:SON) has risen 10.33% since April 20, 2016 and is uptrending. It has outperformed by 5.77% 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 rating was downgraded by Zacks to “Sell” on Monday, September 7. The rating was upgraded by Zacks on Tuesday, September 1 to “Sell”. Zacks upgraded Sonoco Products Co (NYSE:SON) on Friday, August 7 to “Sell” rating. Goldman Sachs initiated Sonoco Products Co (NYSE:SON) on Thursday, May 12 with “Neutral” rating. The rating was downgraded by Bank of America to “Underperform” on Monday, October 3. The firm has “Hold” rating given on Thursday, July 14 by Jefferies. The company was downgraded on Monday, April 11 by DA Davidson. On Friday, July 22 the stock rating was downgraded by Vertical Research to “Sell”. The firm has “Neutral” rating given on Tuesday, November 10 by Macquarie Research. The rating was downgraded by Zacks to “Hold” on Tuesday, August 25.
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 dropped, 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.
New York State Teachers Retirement Sys holds 163,700 shares or 0.02% of its portfolio. Financial Architects, a New Jersey-based fund reported 45 shares. Geode Cap Limited Com has 0.02% invested in the company for 657,618 shares. Legal And General Gru Pcl reported 62,351 shares or 0% of all its holdings. Moreover, Chicago Equity Ltd has 0.02% invested in Sonoco Products Co (NYSE:SON) for 15,575 shares. Moreover, Buckhead Mngmt Ltd Llc has 0.1% invested in Sonoco Products Co (NYSE:SON) for 10,990 shares. Ny State Common Retirement Fund holds 361,325 shares or 0.03% of its portfolio. Aberdeen Asset Mgmt Public Ltd Company Uk last reported 0.04% of its portfolio in the stock. Leavell Investment Management owns 5,000 shares or 0.04% of their US portfolio. Alexandria Cap Limited Liability accumulated 97 shares or 0% of the stock. Argyle Capital Management Inc accumulated 43,049 shares or 0.91% of the stock. Boys Arnold last reported 0.05% of its portfolio in the stock. Community State Bank Na accumulated 0.02% or 1,500 shares. Moreover, Thrivent Fincl For Lutherans has 0.04% invested in Sonoco Products Co (NYSE:SON) for 172,770 shares. Sunbelt Secs, a Texas-based fund reported 2,378 shares.
Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 19 selling transactions for $7.96 million net activity. Another trade for 3,466 shares valued at $178,083 was made by Fuller Rodger D on Friday, July 22. SCHRUM ROGER P sold $38,923 worth of stock or 760 shares. $1.74 million worth of shares were sold by Linville John E on Friday, July 22. $49,000 worth of Sonoco Products Co (NYSE:SON) was sold by Harrell James A. III. LAWTON EDGAR H III sold $1.02M worth of stock. On Monday, June 6 the insider Thompson Marcy J sold $25,584. 9,009 shares with value of $429,075 were sold by Saunders Barry L on Tuesday, May 31.
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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