The Vanguard Group, Inc. has recently announced that it has increased stake in Sonoco Products Company (NYSE:SON) by 1.79%. After grabbing 10.62 million shares, the institutional investor is now in possession of 0.19 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 10.89% having worth around $659.0 million. Moreover, SSgA Funds Management, Inc. increased its share by 0.45 million to have a control over 7.91 million shares. And City National Rochdale LLC raised its holdings to 55192.0 shares by acquiring 2.45 million shares or 2.52% of the stake.
Sonoco Products Company (SON) concluded trading on 11/23/22 at a closing price of $61.05, with 0.49 million shares of worth about $29.71 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.58% during that period and on Wednesday the price saw a loss of about -0.03%. Currently the company’s common shares owned by public are about 98.01M shares, out of which, 97.05M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the SON stock and their offered price forecasts bring an average price target of $65.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $76.00 and could fall to a lowest price of $58.00. The stock’s current price level is 6.69% above of average price target set by the analysts, while a rise to estimated low would result in loss of -5.26% for the stock. However, touching the estimated high of $76.00 would mean a gain of 19.67% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 121 times over the past 12 months. They bought 137,082 shares in 58 of the transactions. In 63 selling transactions, insiders dumped 92,931 shares.
SPDR S&P Dividend ETF, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Sonoco Products Company SPDR S&P Dividend ETF is currently holding 3.97 million shares of worth totaling $246.28 million. The company recently came buying 1086.0 shares which brought its stake up to 4.07% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 1140.0 shares, after which its hold over company’s outstanding shares expand to 3.01%, leaving 2.93 million shares with the mutual fund that have a worth of about $181.91 million. Vanguard Total Stock Market Index, after buying 2.92 million shares, have now control over 3.00% of the stake in the company. It holds 6005.0 shares of worth $181.34 million.
Sonoco Products Company (NYSE: SON) started trading at $61.16, above $0.09 from concluding price of the previous day. However, the stock later moved at a day high price of 61.73, or with a loss of -0.03%. Stock saw a price change of 3.04% in past 5 days and over the past one month there was a price change of -3.08%. Year-to-date (YTD), SON shares are showing a performance of 5.46% which decreased to -2.27% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $51.52 but also hit the highest price of $67.06 during that period. The average intraday trading volume for Sonoco Products Company shares is 534.81K. The stock is currently trading 2.73% above its 20-day simple moving average (SMA20), while that difference is up 2.59% for SMA50 and it goes to 1.87% higher than SMA200.
The Vanguard Group, Inc. acquired 10.62 million shares of Sonoco Products Company having value of about $659.0 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.19 million shares in the company valued at close to $11393273.1, or have control over 1.79% stake in the company. Sonoco Products Company (NYSE: SON) currently have 98.01M outstanding shares and institutions hold larger chunk of about 79.40% of that. Holding of mutual funds in the company is about 48.04% while other institutional holders and individual stake holders have control over 5.31% and 32.13% of the stake respectively.
The stock has a current market capitalization of $5.88B and its 3Y-monthly beta is at 0.75. PE ratio of stock for trailing 12 months is 13.86, while it has posted earnings per share of $4.41 in the same period. Its PEG reads 1.16 and has Quick Ratio of 0.80 while making debt-to-equity ratio of 1.63. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SON, volatility over the week remained 1.83% while standing at 2.76% over the month.
Analysts are in expectations that Sonoco Products Company (SON) stock would likely to be making an EPS of $1.39 in the current quarter, while forecast for next quarter EPS is $1.25 and it is $5.88 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.26 which is $1.49 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.91 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -141.90% while it is estimated to decrease by -9.63% in next year. EPS is likely to grow at an annualized rate of 11.98% for next 5-years, compared to annual growth of -18.20% made by the stock over the past 5-years.
Analysts at 11 brokerage firms have issued recommendations for the Sonoco Products Company (SON)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 11 Wall Street analysts, 2 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on October 31, 2022 offering an Underperform rating for the stock and assigned a target price range of between $65 and $58 to it. Coverage by BofA Securities stated Sonoco Products Company (SON) stock as a Buy in their note to investors on October 13, 2022, suggesting a price target of $76 for the stock. Stock get a Buy rating from Seaport Research Partners on December 21, 2021.