Deutsche Bank Aktiengesellschaft Initiates Coverage on Sonoco Products (NYSE:SON)

Stock analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Sonoco Products (NYSE:SON) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $63.00 price target on the industrial products company’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 14.90% from the stock’s previous close.

Several other research firms have also recently commented on SON. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Citigroup increased their price target on Sonoco Products from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Robert W. Baird raised their price target on Sonoco Products from $48.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Bank of America raised shares of Sonoco Products from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $60.00 in a report on Monday, January 5th. Finally, UBS Group increased their target price on shares of Sonoco Products from $48.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $62.22.

Sonoco Products Trading Down 0.6%

Sonoco Products stock opened at $54.83 on Wednesday. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $58.44. The company has a quick ratio of 0.60, a current ratio of 1.05 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 5.44, a PEG ratio of 1.11 and a beta of 0.50. The firm has a 50-day moving average price of $52.82 and a two-hundred day moving average price of $46.37.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, February 17th. The industrial products company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. Sonoco Products’s revenue was up 29.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.17 earnings per share. Sell-side analysts expect that Sonoco Products will post 6.1 earnings per share for the current year.

Insider Buying and Selling at Sonoco Products

In related news, insider Ernest D. Haynes III sold 1,581 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $56.39, for a total value of $89,152.59. Following the completion of the transaction, the insider owned 9,377 shares in the company, valued at $528,769.03. This trade represents a 14.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SON. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Sonoco Products by 477.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock valued at $257,561,000 after acquiring an additional 4,880,438 shares during the period. State Street Corp grew its position in Sonoco Products by 0.3% during the 2nd quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock worth $194,733,000 after purchasing an additional 13,161 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Sonoco Products by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,898,370 shares of the industrial products company’s stock worth $170,126,000 after purchasing an additional 176,949 shares in the last quarter. Bank of America Corp DE raised its stake in Sonoco Products by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company’s stock valued at $122,169,000 after purchasing an additional 162,262 shares during the period. Finally, Earnest Partners LLC lifted its holdings in shares of Sonoco Products by 1.2% in the third quarter. Earnest Partners LLC now owns 2,678,122 shares of the industrial products company’s stock valued at $115,400,000 after purchasing an additional 31,932 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Company Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.