Sonoco (NYSE:SON)‘s stock had its “hold” rating reissued by equities researchers at KeyCorp in a research report issued to clients and investors on Thursday, April 19th.
The analysts wrote, “We consider SON a solid defensive holding on account of its relatively low leverage (below 2.0x), high dividend yield, and continued and perhaps underappreciated shift toward consumer-oriented businesses. However, volume/mix remains a challenge, and at nearly 9.0x our 2018 adj. EBITDA estimate, we think the valuation is fair and consequently reiterate our SW rating.””
Other equities analysts have also issued research reports about the stock. TheStreet lowered shares of Sonoco from a “b” rating to a “c+” rating in a research report on Friday, February 16th. Zacks Investment Research lowered shares of Sonoco from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Vertical Research raised shares of Sonoco from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. UBS began coverage on shares of Sonoco in a research report on Friday, April 13th. They issued a “buy” rating and a $55.00 price objective for the company. Finally, Bank of America lowered shares of Sonoco from a “buy” rating to a “neutral” rating and set a $59.00 price objective for the company. in a research report on Monday, April 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.86.
Sonoco (NYSE:SON) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. Sonoco had a net margin of 3.79% and a return on equity of 17.02%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. equities research analysts expect that Sonoco will post 3.29 earnings per share for the current year.
In other Sonoco news, VP Marcy J. Thompson sold 1,101 shares of the stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $53.00, for a total transaction of $58,353.00. Following the sale, the vice president now directly owns 15,510 shares of the company’s stock, valued at $822,030. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vicki B. Arthur sold 3,780 shares of the stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $52.75, for a total transaction of $199,395.00. Following the sale, the senior vice president now directly owns 13,399 shares in the company, valued at $706,797.25. The disclosure for this sale can be found here. Insiders have sold a total of 23,632 shares of company stock worth $1,219,525 over the last quarter. 1.70% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the business. LPL Financial LLC increased its holdings in shares of Sonoco by 4.3% in the 1st quarter. LPL Financial LLC now owns 25,470 shares of the industrial products company’s stock worth $1,235,000 after acquiring an additional 1,055 shares during the period. Barclays PLC increased its holdings in shares of Sonoco by 709.8% in the 1st quarter. Barclays PLC now owns 43,414 shares of the industrial products company’s stock worth $2,107,000 after acquiring an additional 38,053 shares during the period. Silvercrest Asset Management Group LLC increased its holdings in shares of Sonoco by 3.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 503,701 shares of the industrial products company’s stock worth $24,430,000 after acquiring an additional 16,361 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Sonoco in the 1st quarter worth about $871,000. Finally, UBS Group AG increased its holdings in shares of Sonoco by 47.4% in the 1st quarter. UBS Group AG now owns 73,574 shares of the industrial products company’s stock worth $3,568,000 after acquiring an additional 23,655 shares during the period. 72.34% of the stock is currently owned by institutional investors.
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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