Sonoco Products (NYSE:SON) Downgraded by StockNews.com to "Hold"

Sonoco Products (NYSE:SON - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Thursday.

A number of other research analysts also recently commented on SON. Bank of America lifted their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Citigroup reduced their price target on Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a report on Monday, January 6th. Truist Financial upped their price objective on Sonoco Products from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Robert W. Baird decreased their target price on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price target on Sonoco Products from $52.00 to $50.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $60.17.

Sonoco Products Stock Down 0.4 %

Shares of NYSE:SON traded down $0.20 during trading on Thursday, hitting $46.18. 1,068,971 shares of the company's stock traded hands, compared to its average volume of 771,693. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 0.77 and a beta of 0.67. Sonoco Products has a 52 week low of $44.35 and a 52 week high of $61.73. The company has a 50-day moving average price of $48.22 and a 200-day moving average price of $51.04. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON - Get Free Report) last issued 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). Sonoco Products had a net margin of 2.60% and a return on equity of 20.46%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.67 billion. As a group, research analysts forecast that Sonoco Products will post 6.25 EPS for the current fiscal year.

Insider Buying and Selling at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the transaction, the director now owns 16,065 shares in the company, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.51% of the company's stock.

Institutional Trading of Sonoco Products

Large investors have recently bought and sold shares of the business. Kennebec Savings Bank bought a new position in shares of Sonoco Products in the third quarter worth about $27,000. Capital Performance Advisors LLP acquired a new position in Sonoco Products during the 3rd quarter worth approximately $33,000. Colonial Trust Co SC increased its position in Sonoco Products by 90.6% during 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 in the last quarter. Quarry LP lifted its stake in Sonoco Products by 111.3% in 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. Finally, True Wealth Design LLC boosted its position in Sonoco Products by 650.7% in 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 in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Company Profile

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.

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