Could Sonoco Products Company (NYSE:SON) Skyrocket? The Stock Had Too Little Sellers

October 4, 2017 - By Richard Conner

 Could Sonoco Products Company (NYSE:SON) Skyrocket? The Stock Had Too Little Sellers

Investors sentiment is 1.27 in Q2 2017. Its the same as in 2017Q1. It is flat, as 25 investors sold Sonoco Products Co shares while 97 reduced holdings. only 50 funds opened positions while 105 raised stakes. 70.45 million shares or 1.29% less from 71.37 million shares in 2017Q1 were reported.
Bessemer reported 92,889 shares. Credit Suisse Ag invested in 0.02% or 356,113 shares. D E Shaw Co holds 136,496 shares or 0.01% of its portfolio. Wells Fargo & Mn reported 3.66M shares. First Tru Advisors Ltd Partnership holds 627,116 shares or 0.09% of its portfolio. New York State Teachers Retirement reported 117,961 shares. Sei Investments has 0.01% invested in Sonoco Products Co (NYSE:SON). Gateway Inv Advisers Ltd Liability Co reported 0.08% stake. Cantab Capital Partners Llp reported 0% stake. The Ohio-based Meeder Asset Management Inc has invested 0.04% in Sonoco Products Co (NYSE:SON). Stifel Corporation reported 0.01% of its portfolio in Sonoco Products Co (NYSE:SON). Brown Brothers Harriman & holds 0.08% of its portfolio in Sonoco Products Co (NYSE:SON) for 280,193 shares. Archford Cap Strategies Ltd Liability Corp owns 63 shares. Argyle Management has 40,866 shares. Riverhead Cap Mngmt Limited Liability Company owns 0.09% invested in Sonoco Products Co (NYSE:SON) for 35,578 shares.

The stock of Sonoco Products Company (NYSE:SON) registered a decrease of 8.59% in short interest. SON’s total short interest was 3.97 million shares in October as published by FINRA. Its down 8.59% from 4.34 million shares, reported previously. With 450,100 shares average volume, it will take short sellers 9 days to cover their SON’s short positions. The short interest to Sonoco Products Company’s float is 4.08%.

About 65,238 shares traded. Sonoco Products Co (NYSE:SON) has risen 9.55% since October 4, 2016 and is uptrending. It has underperformed by 7.15% the S&P500.

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The company has market cap of $5.12 billion. The Firm operates in four divisions: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. It has a 19.5 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.

Sonoco Products Co (NYSE:SON) Ratings Coverage

Among 13 analysts covering Sonoco Products Company (NYSE:SON), 3 have Buy rating, 2 Sell and 8 Hold. Therefore 23% are positive. Sonoco Products Company had 32 analyst reports since August 7, 2015 according to SRatingsIntel. As per Wednesday, September 6, the company rating was upgraded by Bank of America. Macquarie Research upgraded the stock to “Outperform” rating in Monday, November 23 report. As per Monday, September 7, the company rating was downgraded by Zacks. The company was maintained on Wednesday, September 6 by Jefferies. Macquarie Research initiated Sonoco Products Co (NYSE:SON) rating on Tuesday, November 10. Macquarie Research has “Neutral” rating and $42 target. The stock of Sonoco Products Co (NYSE:SON) earned “Hold” rating by BMO Capital Markets on Friday, August 25. Vertical Research downgraded Sonoco Products Co (NYSE:SON) on Friday, July 21 to “Sell” rating. Jefferies maintained Sonoco Products Co (NYSE:SON) rating on Monday, June 26. Jefferies has “Hold” rating and $4800 target. The company was downgraded on Friday, March 18 by Vertical Research. The rating was maintained by BMO Capital Markets with “Hold” on Wednesday, July 19.

More news for Sonoco Products Co (NYSE:SON) were recently published by: Prnewswire.com, which released: “Initiating Research Reports on Packaging and Containers Equities — Sonoco …” on October 03, 2017. Globenewswire.com‘s article titled: “Sonoco Plastics increasing prices for all resin-based products in North America” and published on October 02, 2017 is yet another important article.

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