Sonoco Products Company (NYSE:SON) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Wednesday.

Several other research analysts also recently issued reports on SON. Zacks Investment Research upgraded shares of Sonoco Products Company from a “sell” rating to a “hold” rating in a research report on Thursday, March 9th. DA Davidson upgraded shares of Sonoco Products Company from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $48.00 to $54.00 in a research report on Friday, April 21st. Jefferies Group LLC reiterated a “hold” rating and set a $48.00 price target (up previously from $47.00) on shares of Sonoco Products Company in a research report on Sunday, April 23rd. Finally, Barclays PLC reiterated an “overweight” rating on shares of Sonoco Products Company in a research report on Friday, April 14th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Sonoco Products Company currently has a consensus rating of “Hold” and an average target price of $46.80.

Analyst Recommendations for Sonoco Products Company (NYSE:SON)

Shares of Sonoco Products Company (NYSE:SON) traded down 0.68% on Wednesday, reaching $51.03. 169,739 shares of the company’s stock traded hands. The company has a 50 day moving average price of $51.30 and a 200 day moving average price of $52.95. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 18.54 and a beta of 1.10. Sonoco Products Company has a 52 week low of $45.67 and a 52 week high of $55.58.

Sonoco Products Company (NYSE:SON) last issued its quarterly earnings results on Thursday, April 20th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Sonoco Products Company had a net margin of 5.93% and a return on equity of 17.10%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. On average, equities research analysts predict that Sonoco Products Company will post $2.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 12th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, May 10th. This is an increase from Sonoco Products Company’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 3.04%. Sonoco Products Company’s dividend payout ratio is presently 56.52%.

COPYRIGHT VIOLATION WARNING: This news story was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/06/14/sonoco-products-company-son-raised-to-sell-at-bidaskclub.html.

In other Sonoco Products Company news, VP Marcy J. Thompson sold 940 shares of the company’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $53.28, for a total transaction of $50,083.20. Following the transaction, the vice president now directly owns 8,489 shares in the company, valued at approximately $452,293.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP James A. Harrell III sold 556 shares of the company’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $54.50, for a total transaction of $30,302.00. Following the transaction, the vice president now owns 13,218 shares in the company, valued at $720,381. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Ltd. acquired a new position in Sonoco Products Company during the first quarter worth about $106,000. IFP Advisors Inc increased its position in Sonoco Products Company by 13.2% in the first quarter. IFP Advisors Inc now owns 2,077 shares of the industrial products company’s stock worth $110,000 after buying an additional 242 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in Sonoco Products Company by 445.4% in the first quarter. Cranbrook Wealth Management LLC now owns 2,449 shares of the industrial products company’s stock worth $130,000 after buying an additional 2,000 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in Sonoco Products Company by 11.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,264 shares of the industrial products company’s stock worth $173,000 after buying an additional 336 shares during the last quarter. Finally, Clinton Group Inc. acquired a new position in Sonoco Products Company during the first quarter worth about $208,000. Institutional investors own 74.51% of the company’s stock.

Sonoco Products Company Company Profile

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.

Receive News & Ratings for Sonoco Products Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products Company and related companies with MarketBeat.com's FREE daily email newsletter.