The stock of Sonoco Products Co (NYSE:SON) reached all time high today, Nov, 29 and still has $58.03 target or 5.00% above today’s $55.27 share price. This indicates more upside for the $5.52 billion company. This technical setup was reported by Barchart.com. If the $58.03 PT is reached, the company will be worth $276.00M 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 359,019 shares traded hands. Sonoco Products Co (NYSE:SON) has risen 14.00% since April 26, 2016 and is uptrending. It has outperformed by 8.74% the S&P500.
Analysts await Sonoco Products Co (NYSE:SON) to report earnings on February, 9. They expect $0.64 earnings per share, 0.00% or $0.00 from last year’s $0.64 per share. SON’s profit will be $63.92M for 21.59 P/E if the $0.64 EPS becomes a reality. After $0.72 actual earnings per share reported by Sonoco Products Co for the previous quarter, Wall Street now forecasts -11.11% 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”, 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 Bank of America to “Neutral” on Friday, March 18. The stock of Sonoco Products Co (NYSE:SON) has “Sell” rating given on Monday, September 7 by Zacks. Goldman Sachs initiated the stock with “Neutral” rating in Thursday, May 12 report. The stock of Sonoco Products Co (NYSE:SON) earned “Sell” rating by Vertical Research on Friday, July 22. The stock of Sonoco Products Co (NYSE:SON) has “Sell” rating given on Friday, August 7 by Zacks. Macquarie Research initiated Sonoco Products Co (NYSE:SON) rating on Tuesday, November 10. Macquarie Research has “Neutral” rating and $42 price target. DA Davidson downgraded the shares of SON in a report on Monday, April 11 to “Underperform” rating. On Tuesday, August 25 the stock rating was downgraded by Zacks to “Hold”. On Monday, November 16 the stock rating was reinitiated by Deutsche Bank with “Hold”. The rating was upgraded by Macquarie Research on Monday, November 23 to “Outperform”.
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 Q2 2016. 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.
Nomura Asset Management has 1,750 shares for 0% of their US portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt last reported 19,393 shares in the company. The New York-based Silvercrest Asset Grp Llc has invested 0.21% in Sonoco Products Co (NYSE:SON). Qs Investors Lc last reported 29 shares in the company. Glenmede Trust Na has invested 0% of its portfolio in Sonoco Products Co (NYSE:SON). Price T Rowe Md last reported 0% of its portfolio in the stock. Trillium Asset Management Lc reported 76,730 shares or 0.25% of all its holdings. Zebra Capital Management Limited Liability Corporation has 0.43% invested in the company for 24,854 shares. Wells Fargo Mn accumulated 0.05% or 2.56M shares. Stephens Ar holds 0.06% of its portfolio in Sonoco Products Co (NYSE:SON) for 25,632 shares. Moreover, Wesbanco Fincl Bank Inc has 0.02% invested in Sonoco Products Co (NYSE:SON) for 5,316 shares. Coastline Company last reported 14,260 shares in the company. Citigroup owns 169,370 shares or 0.01% of their US portfolio. Wharton Business Gru Limited Liability, a Pennsylvania-based fund reported 265,636 shares. Hallmark Cap Mgmt holds 27,350 shares or 0.21% of its portfolio.
Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 17 insider sales for $7.44 million net activity. McLeland Allan H also sold $293,750 worth of Sonoco Products Co (NYSE:SON) shares. Harrell James A. III sold 1,000 shares worth $49,000. $1.74 million worth of shares were sold by Linville John E on Friday, July 22. Another trade for 760 shares valued at $38,923 was sold by SCHRUM ROGER P. $25,584 worth of shares were sold by Thompson Marcy J on Monday, June 6. 20,000 shares were sold by LAWTON EDGAR H III, worth $1.02 million. ARTHUR VICKI B had sold 1,721 shares worth $87,771.
More important recent Sonoco Products Co (NYSE:SON) news were published by: Reuters.com which released: “BRIEF-Sonoco Products Co appoints Robert Tiede COO” on November 29, 2016, also Plasticsnews.com published article titled: “Sonoco Products buys flexible packaging converter”, Plasticsnews.com published: “Sonoco selling blow molding operations to Amcor” on September 02, 2016. More interesting news about Sonoco Products Co (NYSE:SON) was released by: Nasdaq.com and their article: “Sonoco Products Company (SON) Ex-Dividend Date Scheduled for November 08, 2016” with publication date: November 07, 2016.
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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