Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sonoco Products Co shares valued at $699,399 were sold by Florence John M on Nov 04 ’24. At $51.20 per share, Florence John M sold 13,660 shares. The insider’s holdings dropped to 7,052 shares worth approximately $0.36 million following the completion of this transaction.
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Also, Florence John M purchased 13,660 shares, netting a total of over 698,034 in proceeds.
Before that, Tomaszewski Jeffrey S had added 6,200 shares to its account. In a trade valued at $340,023, the Former Officer bought Sonoco Products Co shares for $54.84 each.
As published in a research note from Wells Fargo on August 21, 2024, Sonoco Products Co [SON] has been rated down from an Equal weight to an Underweight and the price target has been revised to $52 from $54. Analysts at Raymond James started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid July. As of August 03, 2023, Argus has decreased its “Buy” rating to a “Hold” for SON. Earlier on March 20, 2023, Seaport Research Partners upgraded its rating. Their new recommendation was “a Buy” for SON stock which previously was a “a Neutral”.
Analyzing SON Stock Performance
During the last five days, there has been a drop of approximately -2.65%. Over the course of the year, Sonoco Products Co shares have dropped approximately -8.48%. Shares of the company reached a 52-week high of $61.73 on 06/03/24 and a 52-week low of $48.22 on 07/05/24. A 50-day SMA is recorded $53.74, while a 200-day SMA reached $55.17. Nevertheless, trading volume fell to 0.53 million shares from 0.61 million shares the previous day.
Support And Resistance Levels for Sonoco Products Co (SON)
According to the 24-hour chart, there is a support level at 50.77, which, if violated, would cause prices to drop to 50.41. In the upper region, resistance lies at 51.75. The next price resistance is at 52.37. RSI (Relative Strength Index) is 38.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.14, which suggests the price will decrease in the coming days. Percent R is at 72.93%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
