Sonoco Products (NYSE:SON) PT Lowered to $57.00

Sonoco Products (NYSE:SON – Get Rating) had its price target lowered by Deutsche Bank Aktiengesellschaft from $61.00 to $57.00 in a note issued to investors on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 2.81% from the stock’s previous close.

A number of other research analysts also recently issued reports on SON. Citigroup lowered their price target on Sonoco Products from $71.00 to $69.00 and set a “buy” rating on the stock in a report on Monday, February 13th. Argus raised Sonoco Products from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Tuesday, February 14th. They noted that the move was a valuation call. Finally, StockNews.com downgraded Sonoco Products from a “buy” rating to a “hold” rating in a report on Wednesday, February 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Sonoco Products presently has a consensus rating of “Hold” and a consensus price target of $65.17.

Sonoco Products Trading Up 0.5 %

NYSE SON opened at $55.44 on Wednesday. Sonoco Products has a 12 month low of $51.52 and a 12 month high of $67.06. The stock has a market cap of $5.42 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.96 and a beta of 0.70. The stock’s fifty day moving average price is $59.58 and its 200-day moving average price is $60.09. The company has a current ratio of 1.35, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31.

Sonoco Products (NYSE:SON – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.78 billion. Sonoco Products had a return on equity of 32.53% and a net margin of 6.43%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, equities analysts forecast that Sonoco Products will post 5.78 EPS for the current fiscal year.

Insider Transactions at Sonoco Products

In other news, insider Ernest D. Haynes III sold 1,834 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $60.00, for a total value of $110,040.00. Following the transaction, the insider now owns 1,729 shares of the company’s stock, valued at $103,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ernest D. Haynes III sold 1,834 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $60.00, for a total value of $110,040.00. Following the transaction, the insider now owns 1,729 shares of the company’s stock, valued at $103,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert R. Hill, Jr. acquired 10,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $56.00 per share, for a total transaction of $560,000.00. Following the purchase, the director now directly owns 20,065 shares of the company’s stock, valued at $1,123,640. The disclosure for this purchase can be found here. Insiders have sold 3,458 shares of company stock valued at $207,291 over the last quarter. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of Sonoco Products

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Sonoco Products by 3.4% during the first quarter. BlackRock Inc. now owns 10,991,558 shares of the industrial products company’s stock worth $687,633,000 after purchasing an additional 362,516 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Sonoco Products by 1.7% during the third quarter. Vanguard Group Inc. now owns 10,740,557 shares of the industrial products company’s stock worth $609,312,000 after purchasing an additional 179,779 shares in the last quarter. State Street Corp grew its position in shares of Sonoco Products by 13.4% during the first quarter. State Street Corp now owns 8,240,829 shares of the industrial products company’s stock worth $515,546,000 after purchasing an additional 972,157 shares in the last quarter. Royal Bank of Canada grew its position in shares of Sonoco Products by 1.7% during the third quarter. Royal Bank of Canada now owns 2,500,453 shares of the industrial products company’s stock worth $141,851,000 after purchasing an additional 40,712 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Sonoco Products by 3.3% during the fourth quarter. American Century Companies Inc. now owns 2,157,794 shares of the industrial products company’s stock worth $131,000,000 after purchasing an additional 68,505 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

About Sonoco Products

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Sonoco Products Co engages in the manufacture of industrial and consumer packaging products and services. It operates through the following segments: Consumer Packaging, Paper and Industrial Converted Products, Protective Solutions, and Display and Packaging. The Consumer Packaging segment offers round and shaped rigid containers, fiber and plastic caulk and adhesive tubes, and aluminum, steel, and peelable membrane easy-open closures for paper and metal cans.