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 8.1% during the most recent quarter end. The investment management company now holds a total of 265,636 shares of Sonoco Products Co which is valued at $13,651,034 after selling 23,425 shares in Sonoco Products Co , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Sonoco Products Co makes up approximately 1.53% of Wharton Business Group’s portfolio.

Other Hedge Funds, Including , Los Angeles Capital Management Equity Research Inc reduced its stake in SON by selling 11,200 shares or 11.95% in the most recent quarter. The Hedge Fund company now holds 82,524 shares of SON which is valued at $4,240,908. Sonoco Products Co makes up approx 0.03% of Los Angeles Capital Management Equity Research Inc’s portfolio. Deprince Race Zollo Inc sold out all of its stake in SON during the most recent quarter. The investment firm sold 134,752 shares of SON which is valued $6,922,210.

Sonoco Products Co closed down -0.08 points or -0.16% at $50.86 with 2,66,753 shares getting traded on Monday. Post opening the session at $50.98, the shares hit an intraday low of $50.83 and an intraday high of $51.33 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Sonoco Products Co reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.68. The company had revenue of $1205.68 million for the quarter, compared to analysts expectations of $1255.63 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Sonoco Products Co. Sonoco Products Co was Initiated by Goldman to “Neutral” on May 12, 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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