Saturday, June 25, 2022

VP, CFO Albrecht Julie C sale 1,693 shares of Sonoco Products Company [SON]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Sonoco Products Company shares valued at $104,780 were sold by Albrecht Julie C on Apr 25. At $61.89 per share, Albrecht Julie C sold 1,693 shares. The insider’s holdings dropped to 54,091 shares worth approximately $2.96 million following the completion of this transaction.


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Also, Cummings Harold G III purchased 2,200 shares, netting a total of over 124,187 in proceeds. Following the buying of shares at $56.45 each, the insider now holds 5,761 shares.

Before that, Tomaszewski Jeffrey S had sold 1,700 shares from its account. In a trade valued at $100,913, the VP – Global RPC, D&P, Paper traded Sonoco Products Company shares for $59.36 each. Upon closing the transaction, the insider’s holdings decreased to 1,700 shares, worth approximately $0.29 million.

As published in a research note from Seaport Research Partners on April 22, 2022, Sonoco Products Company [SON] has been rated down from a Buy to a Neutral. Analysts at Seaport Research Partners upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late December. As of October 14, 2021, BofA Securities has decreased its “Neutral” rating to a “an Underperform” for SON. Earlier on April 16, 2021, Seaport Global Securities downgraded its rating. Their new recommendation was “a Neutral” for SON stock which previously was a “a Buy”.

Analyzing SON’s Price Performance

On Wednesday, Sonoco Products Company [NYSE: SON] rose 5.02% to $54.79. The stock’s lowest price that day was $52.68, but it reached a high of $54.89 in the same session. During the last five days, there has been a drop of approximately -0.02%. Over the course of the year, Sonoco Products Company shares have dropped approximately -5.35%. Shares of the company reached a 52-week high of $67.06 on 04/21/22 and a 52-week low of $51.52 on 06/17/22. A 50-day SMA is recorded $59.37, while a 200-day SMA reached $59.33. Nevertheless, trading volume fell to 1.17 million shares from 0.43 million shares the previous day.

Support And Resistance Levels for Sonoco Products Company (SON)

According to the 24-hour chart, there is a support level at 53.35, which, if violated, would cause prices to drop to 51.91. In the upper region, resistance lies at 55.56. The next price resistance is at 56.33. RSI (Relative Strength Index) is 42.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.42, which suggests the price will decrease in the coming days. Percent R is at 65.21%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Sonoco Products Company (SON)?

According to The Vanguard Group, Inc. filings, the company currently owns 10,454,697 shares, which is about 10.72% of the total SON shares outstanding. The investor’s shares have appreciated by 174,662 from its previous 13-F filing of 10280035.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $594,732,107. SSgA Funds Management, Inc. acquire a 13.37% interest valued at $481.84 million while American Century Investment Manag sold a -1,206,682 stake. A total of 411 shares of Sonoco Products Company were sold by City National Rochdale LLC during the quarter, and -134,411 were sold by Victory Capital Management, Inc. In its current portfolio, Dimensional Fund Advisors LP holds 1,804,866 shares valued at $105.53 million.

In terms of Sonoco Products Company share price expectations, FactSet research, analysts set an average price target of $65.83 in the next 12 months, up nearly 24.59% from the previous closing price of $52.17. Analysts anticipate Sonoco Products Company stock to reach $70.00 by 2022, with the lowest price target being $64.00. In spite of this, 10 analysts ranked Sonoco Products Company stock as a Hold at the end of 2022. On April 08, 2021, Wells Fargo assigned a price target of “an Equal weight” to the stock and downgraded coverage with a $69.

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