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 |
|---|---|---|---|
| 11/26/2024 | $63.00 | Buy | Truist |
| 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 |
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HARTSVILLE, S.C., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), a global leader in high-value sustainable packaging, today announced senior leadership changes which became effective on January 3, 2025. Jerry Cheatham, a 36-year finance leader within Sonoco, has been named interim Chief Financial Officer, replacing Chief Financial Officer Rob Dillard, who has departed the Company. Mr. Cheatham has been Vice President of Global Finance for the Company's Industrial Paper Packaging segment since December 2022 and previously served in several finance and accounting leadership roles since joining the Company in 1988. Mr. Cheatham holds a B
Agreement reached on acquisition of Sonoco's TFP business as TOPPAN Group accelerates expansion of sustainable packaging business in Americas TOKYO, Dec. 18, 2024 /PRNewswire/ -- TOPPAN Holdings Inc. (TYO:7911) (TOPPAN Holdings) has entered into an agreement with Sonoco Products Company (NYSE:SON) (Sonoco), a global leader in high-value sustainable packaging, to acquire Sonoco's Thermoformed & Flexible Packaging (TFP) business for approximately $1.8 billion on a cash-free and debt-free basis and subject to customary adjustments. This acquisition is highly complementary, combining the robust sales network, customer base, and solution development capabilities of Sonoco's TFP business in North
HARTSVILLE, S.C., Dec. 18, 2024 (GLOBE NEWSWIRE) -- 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 sell its Thermoformed and Flexibles Packaging business ("TFP") to TOPPAN Holdings Inc. ("Toppan") for approximately $1.8 billion on a cash-free and debt-free basis and subject to customary adjustments (the "Transaction"). The Transaction, which reflects the completion of the previously announced strategic review of Sonoco's TFP business, is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2025. Net pr
Creates a Global Leader in Metal Food and Aerosol Can Manufacturing Advances Sonoco's Portfolio Transformation Strategy HARTSVILLE, S.C., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), a global leader in high-value sustainable packaging, today announced the close of its acquisition of Eviosys, Europe's leading food cans, ends and closures manufacturer, from KPS Capital Partners, LP ("KPS"). The transaction advances Sonoco's portfolio transformation strategy to simplify and realign its portfolio and position the Company for long-term growth and value creation. Sonoco announced its intent to acquire Eviosys on June 24, 2024. Following th
HARTSVILLE, S.C., Oct. 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 third quarter ended September 29, 2024. Summary: Achieved GAAP net income attributable to Sonoco of $51 million, Adjusted EBITDA of $281 million, diluted earnings per share of $0.51 and Adjusted diluted earnings per share of $1.49Generated productivity improvements of $39 million during the third quarter of 2024 and $141 million during the first nine months of 2024Generated $438 million of operating cash flow and $171 million of Free Cash Flow duri
HARTSVLLE, S.C., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company")(NYSE:SON), one of the largest global sustainable packaging companies, will announce third quarter 2024 results on Thursday, October 31, 2024 after the market closes. The Company will host a conference call to discuss these results on Friday, November 1, 2024 at 8:30 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:
HARTSVILLE, S.C., Oct. 15, 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 December 10, 2024, to shareholders of record as of November 8, 2024. According to Howard Coker, President and Chief Executive Officer, this is the 398th 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 October 14, 2024, the Company's dividend provides an approximate 3.8 percent yield, which is more than dou
HARTSVILLE, S.C., Sept. 17, 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 priced an offering (the "Offering") of senior unsecured notes in a combined aggregate principal amount of $1.8 billion (collectively, the "Notes"). The Notes will be issued in three tranches: $500 million in aggregate principal amount of 4.450% notes due 2026$600 million in aggregate principal amount of 4.600% notes due 2029$700 million in aggregate principal amount of 5.000% notes due 2034 Sonoco expects that the closing of the Offering will occur on September 19, 2024, subject to the satis
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
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HARTSVILLE, S.C., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), a global leader in high-value sustainable packaging, today announced senior leadership changes which became effective on January 3, 2025. Jerry Cheatham, a 36-year finance leader within Sonoco, has been named interim Chief Financial Officer, replacing Chief Financial Officer Rob Dillard, who has departed the Company. Mr. Cheatham has been Vice President of Global Finance for the Company's Industrial Paper Packaging segment since December 2022 and previously served in several finance and accounting leadership roles since joining the Company in 1988. Mr. Cheatham holds a B
Agreement reached on acquisition of Sonoco's TFP business as TOPPAN Group accelerates expansion of sustainable packaging business in Americas TOKYO, Dec. 18, 2024 /PRNewswire/ -- TOPPAN Holdings Inc. (TYO:7911) (TOPPAN Holdings) has entered into an agreement with Sonoco Products Company (NYSE:SON) (Sonoco), a global leader in high-value sustainable packaging, to acquire Sonoco's Thermoformed & Flexible Packaging (TFP) business for approximately $1.8 billion on a cash-free and debt-free basis and subject to customary adjustments. This acquisition is highly complementary, combining the robust sales network, customer base, and solution development capabilities of Sonoco's TFP business in North
HARTSVLLE, S.C., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company")(NYSE:SON), one of the largest global sustainable packaging companies, will announce third quarter 2024 results on Thursday, October 31, 2024 after the market closes. The Company will host a conference call to discuss these results on Friday, November 1, 2024 at 8:30 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:
HARTSVILLE, S.C., Oct. 15, 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 December 10, 2024, to shareholders of record as of November 8, 2024. According to Howard Coker, President and Chief Executive Officer, this is the 398th 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 October 14, 2024, the Company's dividend provides an approximate 3.8 percent yield, which is more than dou
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., 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
Truist initiated coverage of Sonoco Products with a rating of Buy and set a new price target of $63.00
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