Insider Selling: Sonoco Products VP Sells 6,485 Shares of Stock (SON)
Sonoco Products (NYSE:SON) VP John Colyer unloaded 6,485 shares of Sonoco Products stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $40.00, for a total transaction of $259,400.00. Following the completion of the sale, the vice president now directly owns 29,169 shares of the company’s stock, valued at approximately $1,166,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
SON has been the subject of a number of recent research reports. Analysts at Robert W. Baird raised their price target on shares of Sonoco Products from $37.00 to $40.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at DA Davidson downgraded shares of Sonoco Products from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $37.00 price target on the stock, up previously from $33.00. They noted that the move was a valuation call. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of Sonoco Products from a “neutral” rating to a “sell” rating in a research note to investors on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Sonoco Products presently has an average rating of “Hold” and a consensus price target of $37.63.
Sonoco Products (NYSE:SON) traded down 0.05% during mid-day trading on Monday, hitting $40.17. The stock had a trading volume of 315,820 shares. Sonoco Products has a 1-year low of $29.00 and a 1-year high of $40.25. The stock’s 50-day moving average is $38.85 and its 200-day moving average is $36.72. The company has a market cap of $4.158 billion and a P/E ratio of 20.00.
Sonoco Products (NYSE:SON) last released its earnings data on Thursday, October 17th. The company reported $0.63 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.61 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company posted $0.55 earnings per share. Sonoco Products’s revenue was up 2.7% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, November 13th.
Sonoco Products Company (NYSE:SON) is a manufacturer of industrial and consumer packaging products and a provider of packaging services.
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