Sonoco Products (NYSE:SON) Rating Lowered to “Sell” at StockNews.com

Sonoco Products (NYSE:SON) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Several other equities analysts have also issued reports on SON. Jefferies Financial Group initiated coverage on shares of Sonoco Products in a report on Tuesday, April 22nd. They issued a “buy” rating and a $62.00 target price on the stock. Raymond James decreased their target price on Sonoco Products from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Citigroup reduced their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday, February 24th. Finally, Truist Financial decreased their price target on shares of Sonoco Products from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.43.

Sonoco Products Trading Down 0.4 %

Shares of SON opened at $46.23 on Friday. The business’s fifty day moving average is $45.66 and its 200-day moving average is $48.51. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 0.76 and a beta of 0.64. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.91 and a current ratio of 0.79. Sonoco Products has a 52-week low of $39.46 and a 52-week high of $61.73.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.01). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. Equities analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.

Insider Transactions at Sonoco Products

In other Sonoco Products news, CEO R. Howard Coker acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $46.10 per share, with a total value of $922,000.00. Following the acquisition, the chief executive officer now owns 482,365 shares in the company, valued at approximately $22,237,026.50. This represents a 4.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John R. Haley bought 3,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the transaction, the director now owns 18,558 shares of the company’s stock, valued at approximately $867,772.08. This represents a 19.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Sonoco Products

Several hedge funds have recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of Sonoco Products by 152.7% in the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 574 shares in the last quarter. Quarry LP grew its holdings in shares of Sonoco Products by 111.3% during the 4th quarter. Quarry LP now owns 970 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 511 shares during the last quarter. Colonial Trust Co SC raised its position in Sonoco Products by 90.6% in the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 453 shares during the period. True Wealth Design LLC boosted its position in Sonoco Products by 650.7% during the fourth quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company’s stock valued at $54,000 after buying an additional 950 shares during the period. Finally, Principal Securities Inc. increased its holdings in shares of Sonoco Products by 35.0% in the fourth quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock worth $66,000 after buying an additional 351 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.