November 16, 2016 - By Hazel Jackson · 0 Comments
The stock of Sonoco Products Company (NYSE:SON) registered an increase of 9.4% in short interest. SON’s total short interest was 3.23 million shares in November as published by FINRA. Its up 9.4% from 2.95 million shares, reported previously. With 467,700 shares average volume, it will take short sellers 7 days to cover their SON’s short positions. The short interest to Sonoco Products Company’s float is 3.29%. About 53,234 shares traded hands. Sonoco Products Co (NYSE:SON) has risen 11.28% since April 14, 2016 and is uptrending. It has outperformed by 6.59% the S&P500.
Sonoco Products Company is a maker of industrial and consumer packaging products and a well-known provider of packaging services. The company has a market cap of $5.32 billion. The Firm operates in four divisions: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. It has a 22.73 P/E ratio. The Company’s Consumer Packaging segment’s services and products 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.
Insitutional Activity: The institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.13, from 1 in 2016Q1. The ratio increased, 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.
The Massachusetts-based Commonwealth Equity Services Inc has invested 0% in Sonoco Products Co (NYSE:SON). Weaver C Barksdale & Associate has invested 1.61% of its portfolio in Sonoco Products Co (NYSE:SON). Gateway Advisers Llc holds 0.07% of its portfolio in Sonoco Products Co (NYSE:SON) for 159,597 shares. Ray Gerald L Assoc Limited, a Texas-based fund reported 5,000 shares. Credit Agricole S A last reported 0.01% of its portfolio in the stock. Victory Capital Inc has invested 0.01% of its portfolio in Sonoco Products Co (NYSE:SON). Moreover, Argyle Cap Mngmt Incorporated has 0.91% invested in Sonoco Products Co (NYSE:SON) for 43,049 shares. The Minnesota-based Pine River Lp has invested 0.01% in Sonoco Products Co (NYSE:SON). Natl Bank Of Hawaii accumulated 6,130 shares or 0.03% of the stock. Coastline Trust Com has 14,260 shares for 0.14% of their US portfolio. Calvert Invest Management accumulated 0.04% or 13,611 shares. Next Inc holds 200 shares or 0% of its portfolio. The Switzerland-based Swiss Bancorporation has invested 0.01% in Sonoco Products Co (NYSE:SON). Moreover, Spot Trading Ltd Co has 0% invested in Sonoco Products Co (NYSE:SON) for 275 shares. Ls Investment Advisors Limited Liability Corp accumulated 6,094 shares or 0.02% of the stock.
Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 19 sales for $7.96 million net activity. SCHRUM ROGER P sold $38,923 worth of stock or 760 shares. MAHONEY KEVIN P sold $10,720 worth of stock or 212 shares. Shares for $98,042 were sold by Harrell James A. III. 3,466 shares were sold by Fuller Rodger D, worth $178,083. Shares for $26,901 were sold by Thompson Marcy J on Thursday, June 30. 9,009 shares were sold by Saunders Barry L, worth $429,075. Shares for $1.74 million were sold by Linville John E on Friday, July 22.
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. As per Monday, October 3, the company rating was downgraded by Bank of America. The stock of Sonoco Products Co (NYSE:SON) has “Hold” rating given on Friday, March 18 by Vertical Research. The firm has “Hold” rating by Jefferies given on Thursday, July 14. Zacks downgraded Sonoco Products Co (NYSE:SON) on Tuesday, August 25 to “Hold” rating. DA Davidson downgraded Sonoco Products Co (NYSE:SON) on Monday, April 11 to “Underperform” rating. The firm has “Sell” rating by Zacks given on Tuesday, September 1. The firm has “Sell” rating given on Friday, August 7 by Zacks. Deutsche Bank reinitiated it with “Hold” rating and $42.0 target price in Monday, November 16 report. The stock of Sonoco Products Co (NYSE:SON) has “Sell” rating given on Monday, September 7 by Zacks. The rating was upgraded by Macquarie Research to “Outperform” on Monday, November 23.
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.
More recent Sonoco Products Co (NYSE:SON) news were published by: Profitconfidential.com which released: “SON Stock: 3 Reasons to Be Bullish on Sonoco Products Co” on July 18, 2016. Also Plasticsnews.com published the news titled: “Sonoco Products buys flexible packaging converter” on November 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.
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By Hazel Jackson