Today’s Stock On Watch: Is Buying 52-Week Stock Like Sonoco Products Co a Winning Strategy?

Today's Stock On Watch: Is Buying 52 Week Stock Like Sonoco Products Co a Winning Strategy?

The stock of Sonoco Products Co (NYSE:SON) hit a new 52-week high and has $56.21 target or 3.00% above today’s $54.57 share price. The 7 months bullish chart indicates low risk for the $5.44B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $56.21 price target is reached, the company will be worth $163.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.02% or $0.01 during the last trading session, hitting $54.57. About 331,828 shares traded hands. Sonoco Products Co (NYSE:SON) has risen 15.79% since April 25, 2016 and is uptrending. It has outperformed by 9.78% the S&P500.

Analysts await Sonoco Products Co (NYSE:SON) to report earnings on February, 9. They expect $0.64 earnings per share, 0.00% or $0.00 from last year’s $0.64 per share. SON’s profit will be $63.80M for 21.32 P/E if the $0.64 EPS becomes a reality. After $0.72 actual earnings per share reported by Sonoco Products Co for the previous quarter, Wall Street now forecasts -11.11% negative EPS growth.

Sonoco Products Co (NYSE:SON) Ratings Coverage

Out of 9 analysts covering Sonoco Products Company (NYSE:SON), 1 rate it a “Buy”, 5 “Sell”, while 3 “Hold”. This means 11% are positive. Sonoco Products Company has been the topic of 16 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Tuesday, August 25 by Zacks. The stock of Sonoco Products Co (NYSE:SON) has “Underperform” rating given on Monday, October 3 by Bank of America. The rating was downgraded by DA Davidson to “Underperform” on Monday, April 11. The rating was maintained by Jefferies with “Hold” on Thursday, July 14. On Tuesday, November 10 the stock rating was initiated by Macquarie Research with “Neutral”. On Monday, September 7 the stock rating was downgraded by Zacks to “Sell”. Goldman Sachs initiated it with “Neutral” rating and $50 target price in Thursday, May 12 report. Deutsche Bank reinitiated the stock with “Hold” rating in Monday, November 16 report. The rating was upgraded by Zacks to “Sell” on Tuesday, September 1. The stock has “Sell” rating given by Vertical Research on Friday, July 22.

According to Zacks Investment Research, “Sonoco is one of the world’s largest manufacturers of packaging materials for industrial and consumer markets. In addition, the company is one of the leading producers of recycled paperboard, utilizing more than a million tons of recovered paper annually in its papermaking operations. Sonoco products are used by many of the world’s leading industries, including food processing, beverages, textiles, supermarkets, plastics, papermaking, pharmaceuticals, material converting, material handling, agriculture, personal care, health care and many others.”

Insitutional Activity: The institutional sentiment decreased to 0.89 in Q2 2016. Its down 0.24, from 1.13 in 2016Q1. The ratio is negative, as 27 funds sold all Sonoco Products Co shares owned while 100 reduced positions. 24 funds bought stakes while 120 increased positions. They now own 68.56 million shares or 4.29% less from 71.64 million shares in 2016Q1.
Ahl Prtnrs Ltd Liability Partnership accumulated 57,090 shares or 0.15% of the stock. M&T Bancshares accumulated 0.02% or 54,434 shares. Whittier Tru accumulated 0% or 582 shares. Proshare Advsrs Lc, a Maryland-based fund reported 53,255 shares. Engines Ltd Liability Com reported 11,378 shares or 0.47% of all its holdings. Guyasuta has 53,444 shares for 0.36% of their US portfolio. Gamco Invsts Incorporated Et Al has 155,000 shares for 0.05% of their US portfolio. Teachers has 113,788 shares for 0.01% of their US portfolio. Td Asset Mngmt, a Ontario – Canada-based fund reported 18,241 shares. First Midwest National Bank Tru Division has 8,704 shares for 0.05% of their US portfolio. American & Mngmt reported 1,300 shares or 0.02% of all its holdings. Comerica Bank holds 0.03% of its portfolio in Sonoco Products Co (NYSE:SON) for 76,451 shares. Norinchukin Fincl Bank The last reported 14,400 shares in the company. Blackrock Fund Advsrs reported 6.27M shares or 0.07% of all its holdings. Virginia Retirement Et Al last reported 4,700 shares in the company.

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 17 selling transactions for $7.44 million net activity. Another trade for 1,390 shares valued at $69,014 was sold by Coker R. Howard. 54,000 shares with value of $2.73M were sold by Linville John E on Monday, November 7. Saunders Barry L sold 3,809 shares worth $194,610. ARTHUR VICKI B had sold 1,721 shares worth $87,771 on Friday, July 22. 1,389 shares were sold by Puechl Robert L., worth $71,163 on Monday, July 25. SANDERS MANCIL J sold $845,208 worth of stock. On Monday, June 6 Thompson Marcy J sold $25,584 worth of the stock or 533 shares.

More recent Sonoco Products Co (NYSE:SON) news were published by: Plasticsnews.com which released: “Sonoco Products buys flexible packaging converter” on November 02, 2016. Also Plasticsnews.com published the news titled: “Sonoco selling blow molding operations to Amcor” on September 02, 2016. Nasdaq.com‘s news article titled: “Sonoco Products Company (SON) Ex-Dividend Date Scheduled for November 08, 2016” with publication date: November 07, 2016 was also an interesting one.

SON Company Profile

Sonoco Products Company (Sonoco), incorporated on May 10, 1899, is a maker of industrial and consumer packaging products and a well-known provider of packaging services. The Firm operates in four divisions: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. The Firm has approximately 330 locations in over 30 countries.

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