Fintel reports that on July 19, 2024, Raymond James initiated coverage of Sonoco Products (NYSE:SON) with a Outperform recommendation.
Analyst Price Forecast Suggests 21.11% Upside
As of July 4, 2024, the average one-year price target for Sonoco Products is $62.83/share. The forecasts range from a low of $57.57 to a high of $68.25. The average price target represents an increase of 21.11% from its latest reported closing price of $51.88 / share.
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The projected annual revenue for Sonoco Products is 7,635MM, an increase of 14.14%. The projected annual non-GAAP EPS is 6.02.
What is the Fund Sentiment?
There are 878 funds or institutions reporting positions in Sonoco Products. This is an decrease of 9 owner(s) or 1.01% in the last quarter. Average portfolio weight of all funds dedicated to SON is 0.16%, an increase of 0.63%. Total shares owned by institutions decreased in the last three months by 0.40% to 86,499K shares. 
The put/call ratio of SON is 0.89, indicating a bullish outlook.
What are Other Shareholders Doing?
American Century Companies holds 3,609K shares representing 3.67% ownership of the company. In its prior filing, the firm reported owning 3,269K shares , representing an increase of 9.42%. The firm increased its portfolio allocation in SON by 4.48% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,093K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 3,071K shares , representing an increase of 0.71%. The firm decreased its portfolio allocation in SON by 4.94% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,050K shares representing 3.10% ownership of the company. In its prior filing, the firm reported owning 2,974K shares , representing an increase of 2.50%. The firm decreased its portfolio allocation in SON by 4.43% over the last quarter.
Bank Of America holds 2,609K shares representing 2.66% ownership of the company. In its prior filing, the firm reported owning 2,406K shares , representing an increase of 7.81%. The firm decreased its portfolio allocation in SON by 73.25% over the last quarter.
Earnest Partners holds 2,581K shares representing 2.63% ownership of the company. In its prior filing, the firm reported owning 2,450K shares , representing an increase of 5.08%. The firm increased its portfolio allocation in SON by 0.00% over the last quarter.
Sonoco Products Background Information
(This description is provided by the company.)
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of approximately $5.4 billion, the Company has 23,000 employees working in approximately 300 operations in 36 countries, serving some of the world’s best known brands in some 85 nations. Sonoco is committed to creating sustainable products, services and programs for our customers, employees and communities that support its corporate purpose of Better Packaging. Better Life. The Company ranked first in the Packaging sector on Fortune’s World’s Most Admired Companies for 2020 as well as Barron’s 100 Most Sustainable Companies.
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