In a filing, Sonoco Products Co. revealed its VP Paper&Ind Converted Prod Wood Adam unloaded Company’s shares for reported $30630.0 on Mar 06 ’24. In the deal valued at $57.04 per share,537 shares were sold. As a result of this transaction, Wood Adam now holds 28,273 shares worth roughly $1.44 million.
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Then, Grissett Russell K sold 2,039 shares, generating $114,306 in total proceeds. Upon selling the shares at $56.06, the Pres Global Flexible Packaging now owns 11,988 shares.
Before that, Tomaszewski Jeffrey S sold 10,500 shares. Sonoco Products Co. shares valued at $604,106 were divested by the Pres., Diversified Business at a price of $57.53 per share. As a result of the transaction, Tomaszewski Jeffrey S now holds 13,456 shares, worth roughly $0.68 million.
Raymond James initiated its Sonoco Products Co. [SON] rating to an Outperform in a research note published on July 19, 2024; the price target was $62. A number of analysts have revised their coverage, including Argus’s analysts, who decreased its forecast for the stock in early August from “a Buy” to “a Hold”. Seaport Research Partners also remained covering SON and has increased its forecast on March 20, 2023 with a “Buy” recommendation from previously “Neutral” rating. Argus revised its rating on February 14, 2023. It rated SON as “a Buy” which previously was an “a Hold”.
Price Performance Review of SON
On Monday, Sonoco Products Co. [NYSE:SON] saw its stock fall -0.04% to $50.83. Over the last five days, the stock has gained 3.71%. Sonoco Products Co. shares have fallen nearly -9.02% since the year began. Nevertheless, the stocks have fallen -8.81% over the past one year. While a 52-week high of $61.73 was reached on 06/03/24, a 52-week low of $48.22 was recorded on 07/05/24. SMA at 50 days reached $52.20, while 200 days put it at $55.78.
Levels Of Support And Resistance For SON Stock
The 24-hour chart illustrates a support level at 50.51, which if violated will result in even more drops to 50.18. On the upside, there is a resistance level at 51.40. A further resistance level may holdings at 51.96. The Relative Strength Index (RSI) on the 14-day chart is 48.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 63.59%. Stochastics%K at 36.51% indicates the stock is a holding.
How much short interest is there in Sonoco Products Co.?
A steep rise in short interest was recorded in Sonoco Products Co. stocks on 2024-07-31, dropping by -0.2 million shares to a total of 1.93 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 2.13 million shares. There was a decline of -10.3%, which implies that there is a negative sentiment for the stock.
