Wharton Business Group Lowers stake in Sonoco Products Co (SON)

Sonoco Products Co (SON) : Wharton Business Group reduced its stake in Sonoco Products Co by 0.21% during the most recent quarter end. The investment management company now holds a total of 289,061 shares of Sonoco Products Co which is valued at $13.4 Million after selling 610 shares in Sonoco Products Co , the firm said in a disclosure report filed with the SEC on May 12, 2016.Sonoco Products Co makes up approximately 1.51% of Wharton Business Group’s portfolio.

Other Hedge Funds, Including , Lsv Asset Management boosted its stake in SON in the latest quarter, The investment management firm added 86,000 additional shares and now holds a total of 1,282,317 shares of Sonoco Products Co which is valued at $59.3 Million. Sonoco Products Co makes up approx 0.13% of Lsv Asset Management’s portfolio. Ironsides Asset Advisors added SON to its portfolio by purchasing 7,756 company shares during the most recent quarter which is valued at $363,679. Sonoco Products Co makes up approx 0.03% of Ironsides Asset Advisors’s portfolio.

Sonoco Products Co opened for trading at $46 and hit $46.54 on the upside on Friday, eventually ending the session at $46.32, with a gain of 0.81% or 0.37 points. The heightened volatility saw the trading volume jump to 4,43,590 shares. Company has a market cap of $4,667 M.

On the company’s financial health, Sonoco Products Co reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.59. The company had revenue of $1226.27 million for the quarter, compared to analysts expectations of $1209.30 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Sonoco Products Co. Sonoco Products Co was Initiated by Goldman to “Neutral” on May 12, 2016. DA Davidson Downgraded Sonoco Products Co on Apr 11, 2016 to ” Underperform”, Price Target of the shares are set at $42.Sonoco Products Co was Downgraded by BofA/Merrill to ” Neutral” on Mar 18, 2016.

Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products and a provider of packaging services. The Company operates in four segments: Consumer Packaging Paper and Industrial Converted Products Display and Packaging and Protective Solutions. The Company has 335 locations in 33 countries. The Company’s Consumer Packaging segment’s operations comprise 90 plants across the world. The Company’s Display and Packaging segment’s operations comprise 27 plants around the world including the United States Poland Mexico and Brazil. The Company’s Paper and Industrial Converted Products segment provides the primary raw material for the Company’s fiber-based packaging. The Protective Solutions segment’s products include custom-engineered paperboard-based and expanded foam protective packaging and components and temperature-assured packaging.

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