Anchor Capital Advisors Lowers stake in Sonoco Products Co (SON)

Sonoco Products Co (SON) : Anchor Capital Advisors reduced its stake in Sonoco Products Co by 3.65% during the most recent quarter end. The investment management company now holds a total of 599,224 shares of Sonoco Products Co which is valued at $30,422,602 after selling 22,731 shares in Sonoco Products Co , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Sonoco Products Co makes up approximately 0.78% of Anchor Capital Advisors’s portfolio.

Other Hedge Funds, Including , Ngam Advisors boosted its stake in SON in the latest quarter, The investment management firm added 22,307 additional shares and now holds a total of 200,127 shares of Sonoco Products Co which is valued at $10,160,448. Sonoco Products Co makes up approx 0.14% of Ngam Advisors’s portfolio.Gw Henssler Associates Ltd reduced its stake in SON by selling 595 shares or 12.34% in the most recent quarter. The Hedge Fund company now holds 4,227 shares of SON which is valued at $215,281. Sonoco Products Co makes up approx 0.02% of Gw Henssler Associates Ltd’s portfolio. Whittier Trust Co added SON to its portfolio by purchasing 582 company shares during the most recent quarter which is valued at $29,641.Private Trust Co Na reduced its stake in SON by selling 362 shares or 8.14% in the most recent quarter. The Hedge Fund company now holds 4,086 shares of SON which is valued at $208,141. Sonoco Products Co makes up approx 0.05% of Private Trust Co Na’s portfolio.Breton Hill Capital Ltd. boosted its stake in SON in the latest quarter, The investment management firm added 5,858 additional shares and now holds a total of 17,966 shares of Sonoco Products Co which is valued at $925,429. Sonoco Products Co makes up approx 0.29% of Breton Hill Capital Ltd.’s portfolio.

Sonoco Products Co opened for trading at $50.87 and hit $51.31 on the upside on Thursday, eventually ending the session at $50.98, with a gain of 0.41% or 0.21 points. The heightened volatility saw the trading volume jump to 3,66,263 shares. Company has a market cap of $5,137 M.

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.

Investors should note that on Jul 20, 2016, Sonoco Products Co announced a cash dividend of $0.3700. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Sep 9, 2016.

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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