Investors received a Tuesday research note that changed the rating from 'buy' to 'hold'.
SON has also been the subject of recent comments from other brokerages. In a research report published on March 15th, Deutsche Bank Aktiengesellschaft reduced their price target for Sonoco Products by $61.00 down to $57.00. Citigroup reduced their price target on Sonoco Products in a Monday research note from $70.00 up to $68.00. Bank of America reduced their price target on Sonoco Products in a Monday report from $80.00 down to $68.00. Seaport Res Ptn upgraded Sonoco Products in a report published on Monday 20th March from a "neutral" rating to a "buy". Four analysts have given the company a buy rating. Two have given the stock a hold and one has given it a sell. On Tuesday, the stock rose $0.23 to reach $56.75. Stocks of the company traded at 566,687 compared to their average of 485,205. Sonoco Products's 1-year low is $53.78, and its 1-year high is $65.96. The 50-day moving-average price of the business is $59.66, and its 200-day moving-average price is also $59.71. The company has a $5.56 billion market cap, a PE of 11.24 and a PEG of 1.96. It also has a beta value of 0.69. The debt-to equity ratio is 1.23. There are also quick ratios of 0.79, and current ratios of 1.47.
The company announced its last quarterly results on May 1st. The industrial products company posted $1.40 in earnings per share during the first quarter. This was $0.07 more than analysts' expectations of $1.33. Sonoco Products' net margin was 6.93%, and its return on equity was 29.17%. The company had revenue of $1.7 billion in the third quarter compared with analyst estimates of $1.8 billion. In the same quarter of the year before, the company posted $1.85 in earnings per share. Revenue was down 2.3% year-over-year. Analysts at Equities Research expect Sonoco Products to post 5.82 earnings-per-share for the current fiscal.
Sonoco Products: Hedge Funds weigh in
Recent sales and purchases of shares by hedge funds and institutional investors have occurred. Merit Financial Group LLC increased its stake in Sonoco Products shares by 5.4% during first quarter. Merit Financial Group LLC owns 3,504 of the industrial products firm's stock, valued at $214,000, after buying 180 additional shares during the period. Louisiana State Employees Retirement System increased its holdings of Sonoco Products during the fourth quarter by 0.8%. Louisiana State Employees Retirement System owns 26,100 shares worth $1,585,000 of industrial products company stock after purchasing 200 additional shares during the last quarter. Deutsche Bank AG increased its stake in Sonoco Products in the first quarter by 1.5%. After buying 207 additional shares, Deutsche Bank AG owns 13,645 of the industrial product company's shares valued at $832,000. Creative Planning increased the number of shares it held in Sonoco Products during the second quarter by 4.1%. Creative Planning owns now 5,426 shares worth $309,000 of the industrial product company's stock after purchasing 214 additional shares during the period. Centennial Wealth Advisory LLC increased its stake in Sonoco Products shares by 4.8% during first quarter. Centennial Wealth Advisory LLC owns 5,072 of the industrial product company's stock, valued at $309,000. This is after acquiring 234 additional shares during the last quarter. 75.74% of shares are owned by hedge fund and institutional investors.
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Sonoco Products Company and its subsidiaries design, develop, manufacture, and sell various engineered and environmentally sustainable packaging products throughout North and South America as well as Europe, Australia and Asia. The company is divided into two segments: Consumer Packaging, and Industrial Paper Packaging.
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