Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment provides paper and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures. The Display and Packaging segment offers temporary and semi-permanent point-of-purchase displays; supply chain management services comprising contract packing, fulfillment, and scalable service centers; retail packaging, including printed backer cards, thermoformed blisters, and heat sealing equipment; and paper amenities, such as coasters and glass covers. The Paper and Industrial Converted Products segment provides paperboard tubes, cones, and cores; fiber-based construction tubes; wooden, metal, and composite wire and cable reels and spools; and recycled paperboard, corrugating medium, recovered paper, and material recycling services. The Protective Solutions segment provides custom-engineered, paperboard-based, and molded foam protective packaging and components; and temperature-assured packaging products. The company sells its products in various markets, which include paper, textile, film, food, chemical, packaging, construction, and wire and cable. Sonoco Products Company was founded in 1899 and is headquartered in Hartsville, South Carolina.
IPO Year:
Exchange: NYSE
Website: sonoco.com
Date | Price Target | Rating | Analyst |
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8/21/2024 | $54.00 → $52.00 | Equal Weight → Underweight | Wells Fargo |
7/19/2024 | $62.00 | Outperform | Raymond James |
8/3/2023 | Buy → Hold | Argus | |
3/20/2023 | $65.00 | Neutral → Buy | Seaport Research Partners |
2/14/2023 | $67.00 | Hold → Buy | Argus |
10/31/2022 | $65.00 → $58.00 | Market Perform → Underperform | BMO Capital Markets |
10/13/2022 | $76.00 | Underperform → Buy | BofA Securities |
7/1/2022 | $66.00 | Buy | Citigroup |
4/22/2022 | Buy → Neutral | Seaport Research Partners | |
1/12/2022 | $66.00 → $58.00 | Equal-Weight | Wells Fargo |
HARTSVILLE, S.C., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), a global leader in high-value sustainable packaging, today announced that it has initiated a review of strategic alternatives for the Company's Thermoformed & Flexible Packaging ("TFP") business, a part of the Company's Consumer Packaging segment. Exploring alternatives for the TFP business is expected to accelerate Sonoco's portfolio simplification strategy, improve pro forma leverage and further increase shareholder value. Sonoco's TFP is a market leading thermoformed and flexible packaging business serving a wide range of customers in food, retail and medical markets. TF
HARTSVILLE, S.C., July 31, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), one of the largest sustainable global packaging companies, today reported financial results for its second quarter ended June 30, 2024. Summary: Achieved GAAP net income attributable to Sonoco of $91 million, Adjusted EBITDA of $262 million, diluted earnings per share of $0.92 and diluted Adjusted earnings per share of $1.28Generated strong productivity of $51 million during the second quarter and $102 million during the first half of 2024Generated $275 million of operating cash flow and $96 million of Free Cash Flow during the first half of
Today, Paired Power, a leading U.S. solar microgrid electric vehicle charger manufacturer announces its installation of its PairTree EV charger for Sonoco (NYSE:SON), a leading global manufacturer of consumer, industrial, health care and protective packaging. "We're thrilled to provide the first offgrid electric vehicle solar charger to Sonoco, a world-class company with a strong track record of reducing emissions through recyclable material sourcing and countless initiatives," said Tom McCalmont, Paired Power CEO. "Obtaining our PairTree to provide Sonoco's staff with truly green electric car charging is an extension of their leadership's commitment to the environment." PairTree can be
HARTSVLLE, S.C., July 24, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company")(NYSE:SON), one of the largest global sustainable packaging companies, will announce second quarter 2024 results on Wednesday, July 31, 2024 after the market closes. The Company will host a conference call to discuss these results on Thursday, August 1, 2024 at 9:30 a.m. Eastern Time. A live audio webcast of the call along with supporting materials will be available on the Sonoco Investor Relations website at https://investor.sonoco.com/. A webcast replay will be available on the Company's website for at least 30 days following the call. Event:Sonoco Second Quarter 2024 Earnings Webca
HARTSVILLE, S.C., July 17, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco (NYSE:SON) has declared a $0.52 per share quarterly common stock dividend. This dividend will be paid on September 10, 2024, to shareholders of record as of August 9, 2024. According to Howard Coker, President and Chief Executive Officer, this is the 397th consecutive quarter and 99th year, dating back to 1925, that the Company has paid dividends to shareholders, and is the 41st consecutive year the Company has increased its annualized dividend. Based on the closing price of Sonoco's common stock on July 16, 2024, the Company's dividend provides an approximate 3.6 percent yield, which is more than double
NEW YORK, June 24, 2024 /PRNewswire/ -- KPS Capital Partners, LP ("KPS") announced today that it has entered into an agreement for its portfolio company, Eviosys (the "Company"), to be sold to Sonoco Products Company ((", Sonoco", , NYSE:SON), a Hartsville, South Carolina-based global leader in high-value sustainable packaging, for €3.615 billion (or approximately $3.9 billion). Sonoco has the option, under certain circumstances, to pay up to $200 million of the purchase consideration in the form of Sonoco stock. The transaction is expected to close by the end of 2024, and is subject to completion of required works council consultations and the receipt of required regulatory approvals and ot
Advances Sonoco's Shareholder Value Creation Strategy Through Disciplined and High Return Capital Investment Transaction Value of Approximately $3.9 Billion Represents a Multiple of 7.3x 2024 Expected Adjusted EBITDA Including Synergies Rodger Fuller, Chief Operating Officer, to Lead Integration; Expect to Achieve Over $100 Million of Synergies Within 24 Months Acquisition Expected to be Immediately Accretive to Adjusted EPS and Over 25% Accretive to 2025 Expected Adjusted EPS1 Transaction Advances Portfolio Transformation Strategy with Initiated Execution of at Least $1 Billion Divestiture Plan, with Net Proceeds for Deleveraging Sonoco Intends to Retain an Investment Grade Rating with
HARTSVILLE, S.C., June 17, 2024 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON) today announced it will raise the price for all converted paperboard products by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after July 10th, 2024. This includes tubes, cores, cones and protective packaging. "This price increase is necessary due to continued increases in costs for uncoated recycled paperboard (URB), our primary raw material, plus other inflationary costs," said Mike Thompson, Vice President of Sales and Marketing for Sonoco's North American Converted Paper Products Division. Contact Information: Lisa Weeks Vice President of Investor Relations & Communicatio
HARTSVILLE, S.C., June 10, 2024 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON) today announced it is implementing a $70 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning July 10, 2024. This price action is necessary to offset increased input costs. Contact Information: Lisa Weeks Vice President of Investor Relations & Communications [email protected] 843-383-7524 About Sonoco With net sales of approximately $6.8 billion in 2023, Sonoco has approximately 22,000 employees working in more than 300 operations around the world, serving some of the world's best-known brands. With our corporate purpose
HARTSVILLE, S.C., May 30, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco") (NYSE:SON), one of the largest sustainable global packaging companies, today announced the grand opening of a new multi-million-dollar, state-of-the-art center at 2850 Charter Street in Columbus, Ohio. The 11,000 square foot facility includes modern laboratories, prototyping equipment, training rooms, and collaboration spaces. The opening of the Sonoco Metal Packaging Technical & Engineering Center demonstrates the company's commitment to expand leadership in sustainable metal packaging and creates a centralized location to support our customers with design support, advanced technical services, process de
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In the latest quarter, 4 analysts provided ratings for Sonoco Prods (NYSE:SON), showcasing a mix of bullish and bearish perspectives. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 1 2 0 0 Last 30D 0 1 0 0 0 1M Ago 1 0 1 0 0 2M Ago 0 0 0 0 0 3M Ago 0 0 1 0 0 Analysts have recently evaluated Sonoco Prods and provided 12-month price targets. The average target is $58.5, accompanied by a high estimate of $62.00 and a low estimate of $55.00. A decline of 0.85% from the prior average price target
Raymond James analyst Matt Roberts initiates coverage on Sonoco Prods (NYSE:SON) with a Outperform rating and announces Price Target of $62.
Wells Fargo analyst Gabe Hajde maintains Sonoco Prods (NYSE:SON) with a Equal-Weight and lowers the price target from $57 to $55.
Citigroup analyst Anthony Pettinari maintains Sonoco Prods (NYSE:SON) with a Buy and lowers the price target from $64 to $60.
Sonoco Products Company (NYSE:SON) shares are trading lower after the company inked an agreement to buy Eviosys for around EUR3.615 billion ($3.9 billion) on a cash-free, debt-free basis. Eviosys manufactures metal packaging, including food cans, ends, aerosol cans, metal closures, and promotional packaging, with the largest footprint in metal food can production across 44 facilities in 17 countries and employing about 6,300 people. The transaction is expected to support Sonoco’s strategy to focus and expand its core operations while seizing profitable opportunities through organic growth and strategic acquisitions. Sonoco plans to maintain its investment-grade credit rating by fina
Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), a global leader in high-value sustainable packaging, today announced it has entered into an agreement to acquire Eviosys, Europe's leading food cans, ends and closures manufacturer, from KPS Capital Partners, LP ("KPS") for approximately $3.9 billion (the "Transaction"). The Transaction accelerates Sonoco's strategy to focus on and scale its core businesses and invest in high return opportunities, both organically and inorganically. Following the Transaction, Sonoco will be the leading metal food can and aerosol packaging manufacturer globally. Both Sonoco's metal business and Eviosys have meaningful commercial momentum and the
This is effective with shipments in the United States and Canada, on or after July 10th, 2024. This includes tubes, cores, cones and protective packaging.
During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Below are the ratings of the most accurate analysts for three high-yielding stocks in the materials sector. Sonoco Products Company (NYSE:SON) Dividend Yield: 3.47% Citigroup analyst Anthony Pettinari maintained a Buy rating and cut the
Wells Fargo analyst Gabe Hajde maintains Sonoco Prods (NYSE:SON) with a Equal-Weight and raises the price target from $56 to $57.
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HARTSVILLE, S.C., July 31, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), one of the largest sustainable global packaging companies, today reported financial results for its second quarter ended June 30, 2024. Summary: Achieved GAAP net income attributable to Sonoco of $91 million, Adjusted EBITDA of $262 million, diluted earnings per share of $0.92 and diluted Adjusted earnings per share of $1.28Generated strong productivity of $51 million during the second quarter and $102 million during the first half of 2024Generated $275 million of operating cash flow and $96 million of Free Cash Flow during the first half of
HARTSVLLE, S.C., July 24, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company")(NYSE:SON), one of the largest global sustainable packaging companies, will announce second quarter 2024 results on Wednesday, July 31, 2024 after the market closes. The Company will host a conference call to discuss these results on Thursday, August 1, 2024 at 9:30 a.m. Eastern Time. A live audio webcast of the call along with supporting materials will be available on the Sonoco Investor Relations website at https://investor.sonoco.com/. A webcast replay will be available on the Company's website for at least 30 days following the call. Event:Sonoco Second Quarter 2024 Earnings Webca
HARTSVILLE, S.C., July 17, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco (NYSE:SON) has declared a $0.52 per share quarterly common stock dividend. This dividend will be paid on September 10, 2024, to shareholders of record as of August 9, 2024. According to Howard Coker, President and Chief Executive Officer, this is the 397th consecutive quarter and 99th year, dating back to 1925, that the Company has paid dividends to shareholders, and is the 41st consecutive year the Company has increased its annualized dividend. Based on the closing price of Sonoco's common stock on July 16, 2024, the Company's dividend provides an approximate 3.6 percent yield, which is more than double
Advances Sonoco's Shareholder Value Creation Strategy Through Disciplined and High Return Capital Investment Transaction Value of Approximately $3.9 Billion Represents a Multiple of 7.3x 2024 Expected Adjusted EBITDA Including Synergies Rodger Fuller, Chief Operating Officer, to Lead Integration; Expect to Achieve Over $100 Million of Synergies Within 24 Months Acquisition Expected to be Immediately Accretive to Adjusted EPS and Over 25% Accretive to 2025 Expected Adjusted EPS1 Transaction Advances Portfolio Transformation Strategy with Initiated Execution of at Least $1 Billion Divestiture Plan, with Net Proceeds for Deleveraging Sonoco Intends to Retain an Investment Grade Rating with
HARTSVILLE, S.C., April 30, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), one of the largest sustainable global packaging companies, today reported financial results for its first quarter ended March 31, 2024. Summary: Generated $166 million of operating cash flow and $80 million of Free Cash FlowAchieved net income attributable to Sonoco of $65 million, Adjusted EBITDA of $245 million, diluted earnings per share of $0.66 and diluted Adjusted earnings per share of $1.12; higher productivity of $51 million partially offset price/cost pressures and lower volumesCompleted the sale of Protective Solutions on April 1, 2024, as part of our
HARTSVILLE, S.C., April 24, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company")(NYSE:SON), one of the largest global sustainable packaging companies, will announce first quarter 2024 results on Tuesday, April 30, 2024 after the market closes. The Company will host a conference call to discuss these results on Wednesday, May 1, 2024 at 9:00 a.m. Eastern Time. A live audio webcast of the call along with supporting materials will be available on the Sonoco Investor Relations website at https://investor.sonoco.com/. A webcast replay will be available on the Company's website for at least 30 days following the call. Event:S
HARTSVILLE, S.C., April 17, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco (NYSE:SON) today increased its quarterly common stock dividend to $0.52 per share from the previous quarterly distribution of $0.51 per share. This new dividend will be paid on June 10, 2024, to shareholders of record as of May 10, 2024. With this increase, Sonoco's annualized dividend payout moves to $2.08 per share. Future quarterly declarations and the establishment of future record and payment dates are subject to final determination by Sonoco's Board of Directors. According to Howard Coker, President and Chief Executive Officer, this is the 396th consecutive quarter and 99th, year dating back to 19
HARTSVILLE, S.C., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), one of the largest sustainable global packaging companies, today reported financial results for its fourth quarter and fiscal year ended December 31, 2023. Summary Achieved second best full year results for Adjusted EPS in the Company's 125-year historyGenerated a record $883 million of operating cash flow and $600 million of Free Cash Flow in the full year of 2023Invested a record level of capital in the business for future growth and productivityAchieved record results in Operating Profit and Adjusted EBITDA in flexible packaging and record net sales in rigid
HARTSVILLE, S.C., Feb. 14, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco (NYSE:SON) has declared a $0.51 per share quarterly common stock dividend. This dividend will be paid on March 8, 2024, to shareholders of record as of February 28, 2024. According to Howard Coker, President and Chief Executive Officer, this is the 395th consecutive quarter, dating back to 1925, that the Company has paid dividends to shareholders. Based on the closing price of Sonoco's common stock on February 9, 2024, the Company's dividend yield is greater than 3.5 percent, which is more than double the dividend yield of the S&P 500 Index. About SonocoFounded in 1899, Sonoco (NYSE:SON) is a global
HARTSVLLE, S.C., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company")(NYSE:SON), one of the largest global sustainable packaging companies, will announce fourth quarter 2023 and annual 2023 results on Wednesday, February 14, 2024 after the market closes and host a conference call to discuss these results on Thursday, February 15, 2024 at 8:30 AM Eastern Time. Sonoco 2023 Q4 Earnings Call:Date:February 15, 2024Event Time:8:30 AM to 9:30 AM ETAudio Dial-In:To listen via telephone, please register in advance at https://register.vevent.com/register/BIb02c00d4851542b581e403c009193b43Webcast Link:https://edge.media-server.com/mmc/p/owncumwd Sonoco will host a
HARTSVILLE, S.C., May 14, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), one of the largest sustainable global packaging companies, today announced the upcoming retirement of tenured executive, Jeff Tomaszewski, President, Diversified Businesses, effective June 30, 2024. "On behalf of the entire Sonoco team, I want to thank Jeff for the great impact he has had on our team and business during his 22-year career with the company," said Howard Coker, President and CEO. "When we created our All Other group of businesses, I asked Jeff to take over these diversified businesses to evaluate their strategic long-term fit for Sonoco, while working in para
HARTSVILLE, S.C., Sept. 13, 2022 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), a diversified global packaging leader, today announced the appointment of Shawn Munday as the Vice President of Global Mergers and Acquisitions, reporting to Chief Financial Officer, Rob Dillard. Shawn will lead business development strategies, mergers and acquisitions (M&A), divestitures, and other strategic investment partnerships and activities on behalf of the Company. "Shawn is a dynamic and proven financial and corporate development leader with a successful track record of identifying investments and M&A opportunities for global organizations and we are delighted to have him join Sonoco," said Rob Dillard, CFO.
HARTSVILLE, S.C., Aug. 31, 2022 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), one of the largest global sustainable packaging companies, today announced that Sundaram Nagarajan, a member of the Board of Directors, has made the decision to step down from the Board, effective immediately. Nagarajan was appointed a Director of Sonoco in 2015 and is President and Chief Executive Officer and a member of the board of directors of Nordson Corporation (NASDAQ:NDSN), an innovative precision technology company that leverages a scalable growth framework thru an entrepreneurial, division led organization to deliver top tier growth with leading margins and returns. In his letter of resignation, Nagarajan
Wells Fargo downgraded Sonoco Products from Equal Weight to Underweight and set a new price target of $52.00 from $54.00 previously
Raymond James initiated coverage of Sonoco Products with a rating of Outperform and set a new price target of $62.00
Argus downgraded Sonoco Products from Buy to Hold
Seaport Research Partners upgraded Sonoco Products from Neutral to Buy and set a new price target of $65.00
Argus upgraded Sonoco Products from Hold to Buy and set a new price target of $67.00
BMO Capital Markets downgraded Sonoco Products from Market Perform to Underperform and set a new price target of $58.00 from $65.00 previously
BofA Securities upgraded Sonoco Products from Underperform to Buy and set a new price target of $76.00
Citigroup initiated coverage of Sonoco Products with a rating of Buy and set a new price target of $66.00
Seaport Research Partners downgraded Sonoco Products from Buy to Neutral
Wells Fargo reiterated coverage of Sonoco Products with a rating of Equal-Weight and set a new price target of $58.00 from $66.00 previously