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Sonoco Products Company (NYSE:SON) was upgraded by stock analysts at Vertical Research to a “buy” rating in a report issued on Monday.

Sonoco Products Company (NYSE:SON) traded up 1.24% during mid-day trading on Monday, hitting $40.80. 217,202 shares of the company’s stock traded hands. Sonoco Products Company has a 52 week low of $36.59 and a 52 week high of $44.65. The stock’s 50-day moving average is $40.76 and its 200-day moving average is $41.63. The company has a market cap of $4.151 billion and a P/E ratio of 18.15.

Sonoco Products Company (NYSE:SON) last announced its earnings results on Thursday, July 17th. The company reported $0.63 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.66 by $0.03. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts predict that Sonoco Products Company will post $2.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, August 13th.

A number of other analysts have also recently weighed in on SON. Analysts at Zacks reiterated a “neutral” rating on shares of Sonoco Products Company in a research note on Wednesday, August 13th. They now have a $42.00 price target on the stock. Separately, analysts at Macquarie reiterated a “neutral” rating on shares of Sonoco Products Company in a research note on Friday, July 18th. They now have a $44.00 price target on the stock, down previously from $45.00. Finally, analysts at Barclays raised their price target on shares of Sonoco Products Company from $40.00 to $43.00 in a research note on Friday, July 18th. They now have an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.44.

Sonoco Products Company (NYSE:SON) is a manufacturer of industrial and consumer packaging products and a provider of packaging services, with 347 locations in 34 countries.

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