Sonoco Products (NYSE:SON) Price Target Increased to $57.00 by Analysts at Wells Fargo & Company

Sonoco Products (NYSE:SON - Get Free Report) had its price target boosted by equities research analysts at Wells Fargo & Company from $56.00 to $57.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's target price suggests a potential upside of 0.33% from the company's current price.

A number of other equities analysts also recently commented on the stock. Citigroup decreased their price objective on shares of Sonoco Products from $66.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, April 4th. TheStreet downgraded shares of Sonoco Products from a "b-" rating to a "c+" rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.33.

Sonoco Products Stock Up 2.2 %

Shares of Sonoco Products stock traded up $1.20 on Friday, hitting $56.82. 513,735 shares of the company's stock traded hands, compared to its average volume of 436,896. The stock has a market cap of $5.58 billion, a P/E ratio of 14.35, a PEG ratio of 2.18 and a beta of 0.68. The company has a quick ratio of 1.10, a current ratio of 1.31 and a debt-to-equity ratio of 1.08. The firm's 50-day moving average is $56.92 and its 200 day moving average is $56.00. Sonoco Products has a 52-week low of $49.98 and a 52-week high of $63.74.

Sonoco Products (NYSE:SON - Get Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.05 by $0.07. The company had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.67 billion. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The business's revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 EPS. Equities analysts anticipate that Sonoco Products will post 5.21 earnings per share for the current year.

Insider Activity

In other news, insider Jeffrey S. Tomaszewski sold 10,500 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.53, for a total transaction of $604,065.00. Following the completion of the transaction, the insider now owns 13,456 shares of the company's stock, valued at $774,123.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Adam Wood sold 537 shares of Sonoco Products stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total transaction of $30,630.48. Following the sale, the vice president now directly owns 28,273 shares in the company, valued at $1,612,691.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey S. Tomaszewski sold 10,500 shares of Sonoco Products stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.53, for a total transaction of $604,065.00. Following the sale, the insider now owns 13,456 shares in the company, valued at $774,123.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,076 shares of company stock valued at $749,002. 0.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sonoco Products

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wedmont Private Capital raised its position in Sonoco Products by 2.8% in the first quarter. Wedmont Private Capital now owns 6,541 shares of the industrial products company's stock worth $382,000 after acquiring an additional 178 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in Sonoco Products by 0.6% in the third quarter. Johnson Investment Counsel Inc. now owns 31,339 shares of the industrial products company's stock worth $1,703,000 after acquiring an additional 200 shares in the last quarter. Curbstone Financial Management Corp raised its position in Sonoco Products by 0.7% in the fourth quarter. Curbstone Financial Management Corp now owns 27,550 shares of the industrial products company's stock worth $1,539,000 after acquiring an additional 200 shares in the last quarter. FinTrust Capital Advisors LLC increased its stake in Sonoco Products by 78.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company's stock worth $28,000 after purchasing an additional 216 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Sonoco Products by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 42,937 shares of the industrial products company's stock worth $2,334,000 after purchasing an additional 220 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.

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