Sonoco Products (NYSE:SON) Lowered to Underperform at Bank of America
Several other equities research analysts have also recently commented on the company. ValuEngine raised YY from a sell rating to a hold rating in a research note on Friday, June 7th. Argus upgraded Sonoco Products from a hold rating to a buy rating and set a $68.00 price target on the stock in a report on Wednesday, April 24th. KeyCorp reiterated a hold rating on shares of Sonoco Products in a report on Sunday, April 21st. Wells Fargo & Co set a $58.00 price target on Sonoco Products and gave the stock a hold rating in a report on Monday, April 22nd. Finally, Vertical Research lowered Sonoco Products from a hold rating to a sell rating in a report on Tuesday, April 16th. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Sonoco Products currently has a consensus rating of Hold and an average price target of $59.33.
Shares of SON opened at $64.43 on Friday. Sonoco Products has a 12-month low of $50.30 and a 12-month high of $66.57. The stock has a 50-day moving average price of $64.77. The company has a current ratio of 1.36, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66. The firm has a market cap of $6.52 billion, a PE ratio of 19.12, a PEG ratio of 3.90 and a beta of 0.94.
In related news, SVP Rodger D. Fuller sold 5,085 shares of Sonoco Products stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $60.25, for a total transaction of $306,371.25. Following the sale, the senior vice president now directly owns 72,978 shares in the company, valued at $4,396,924.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Roger P. Schrum sold 812 shares of Sonoco Products stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total value of $50,547.00. Following the sale, the vice president now owns 7,938 shares in the company, valued at $494,140.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,381 shares of company stock worth $758,537. Corporate insiders own 1.30% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Rowland & Co. Investment Counsel ADV lifted its holdings in Sonoco Products by 48.5% during the first quarter. Rowland & Co. Investment Counsel ADV now owns 60,469 shares of the industrial products company’s stock worth $3,721,000 after acquiring an additional 19,749 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Sonoco Products by 0.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 142,037 shares of the industrial products company’s stock worth $8,740,000 after buying an additional 1,308 shares during the last quarter. Two Sigma Advisers LP increased its position in Sonoco Products by 94.2% in the fourth quarter. Two Sigma Advisers LP now owns 35,400 shares of the industrial products company’s stock worth $1,881,000 after buying an additional 17,176 shares during the last quarter. Pratt Collard Advisory Partners LLC purchased a new stake in Sonoco Products in the first quarter worth $229,000. Finally, Geode Capital Management LLC increased its position in Sonoco Products by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 984,079 shares of the industrial products company’s stock worth $52,284,000 after buying an additional 61,583 shares during the last quarter. Institutional investors and hedge funds own 73.87% of the company’s stock.
About Sonoco Products
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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