Intrinsic value of Sonoco Products - SON

Previous Close

$56.09

  Intrinsic Value

$46.31

stock screener

  Rating & Target

hold

-17%

Previous close

$56.09

 
Intrinsic value

$46.31

 
Up/down potential

-17%

 
Rating

hold

We calculate the intrinsic value of SON stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.10
  9.59
  9.13
  8.72
  8.35
  8.01
  7.71
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
Revenue, $m
  5,545
  6,077
  6,632
  7,210
  7,812
  8,438
  9,088
  9,765
  10,467
  11,197
  11,956
  12,745
  13,566
  14,421
  15,310
  16,236
  17,201
  18,208
  19,257
  20,353
  21,497
  22,692
  23,940
  25,245
  26,610
  28,038
  29,533
  31,097
  32,735
  34,450
Variable operating expenses, $m
  5,080
  5,552
  6,045
  6,558
  7,093
  7,648
  8,226
  8,826
  9,450
  10,098
  10,614
  11,315
  12,044
  12,802
  13,592
  14,414
  15,271
  16,164
  17,096
  18,069
  19,084
  20,145
  21,253
  22,412
  23,624
  24,891
  26,218
  27,607
  29,061
  30,584
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  5,080
  5,552
  6,045
  6,558
  7,093
  7,648
  8,226
  8,826
  9,450
  10,098
  10,614
  11,315
  12,044
  12,802
  13,592
  14,414
  15,271
  16,164
  17,096
  18,069
  19,084
  20,145
  21,253
  22,412
  23,624
  24,891
  26,218
  27,607
  29,061
  30,584
Operating income, $m
  465
  525
  587
  652
  719
  790
  863
  939
  1,017
  1,099
  1,342
  1,430
  1,523
  1,618
  1,718
  1,822
  1,931
  2,044
  2,161
  2,284
  2,413
  2,547
  2,687
  2,833
  2,987
  3,147
  3,315
  3,490
  3,674
  3,866
EBITDA, $m
  794
  870
  949
  1,032
  1,118
  1,208
  1,301
  1,398
  1,499
  1,603
  1,712
  1,825
  1,942
  2,065
  2,192
  2,324
  2,463
  2,607
  2,757
  2,914
  3,078
  3,249
  3,427
  3,614
  3,810
  4,014
  4,228
  4,452
  4,687
  4,932
Interest expense (income), $m
  53
  78
  94
  110
  127
  144
  163
  182
  202
  222
  244
  266
  289
  314
  339
  365
  392
  420
  450
  480
  512
  546
  581
  617
  655
  695
  737
  781
  826
  874
  924
Earnings before tax, $m
  387
  431
  477
  525
  575
  627
  681
  737
  795
  855
  1,076
  1,141
  1,209
  1,280
  1,354
  1,430
  1,510
  1,594
  1,681
  1,772
  1,867
  1,966
  2,070
  2,178
  2,291
  2,410
  2,534
  2,664
  2,800
  2,942
Tax expense, $m
  104
  116
  129
  142
  155
  169
  184
  199
  215
  231
  290
  308
  326
  346
  365
  386
  408
  430
  454
  478
  504
  531
  559
  588
  619
  651
  684
  719
  756
  794
Net income, $m
  282
  315
  348
  383
  420
  458
  497
  538
  580
  625
  785
  833
  883
  934
  988
  1,044
  1,103
  1,164
  1,227
  1,293
  1,363
  1,435
  1,511
  1,590
  1,673
  1,759
  1,850
  1,945
  2,044
  2,148

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,018
  5,500
  6,002
  6,525
  7,070
  7,636
  8,225
  8,837
  9,473
  10,133
  10,820
  11,534
  12,277
  13,050
  13,855
  14,693
  15,567
  16,478
  17,428
  18,419
  19,454
  20,535
  21,665
  22,847
  24,082
  25,374
  26,726
  28,142
  29,624
  31,177
Adjusted assets (=assets-cash), $m
  5,018
  5,500
  6,002
  6,525
  7,070
  7,636
  8,225
  8,837
  9,473
  10,133
  10,820
  11,534
  12,277
  13,050
  13,855
  14,693
  15,567
  16,478
  17,428
  18,419
  19,454
  20,535
  21,665
  22,847
  24,082
  25,374
  26,726
  28,142
  29,624
  31,177
Revenue / Adjusted assets
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
  1.105
Average production assets, $m
  2,024
  2,218
  2,421
  2,632
  2,851
  3,080
  3,317
  3,564
  3,821
  4,087
  4,364
  4,652
  4,952
  5,263
  5,588
  5,926
  6,278
  6,646
  7,029
  7,429
  7,846
  8,282
  8,738
  9,215
  9,713
  10,234
  10,779
  11,350
  11,948
  12,574
Working capital, $m
  516
  565
  617
  671
  727
  785
  845
  908
  973
  1,041
  1,112
  1,185
  1,262
  1,341
  1,424
  1,510
  1,600
  1,693
  1,791
  1,893
  1,999
  2,110
  2,226
  2,348
  2,475
  2,608
  2,747
  2,892
  3,044
  3,204
Total debt, $m
  1,733
  2,034
  2,348
  2,675
  3,015
  3,369
  3,737
  4,120
  4,517
  4,930
  5,359
  5,806
  6,270
  6,753
  7,256
  7,780
  8,326
  8,895
  9,489
  10,109
  10,756
  11,431
  12,137
  12,876
  13,648
  14,455
  15,301
  16,185
  17,112
  18,082
Total liabilities, $m
  3,137
  3,437
  3,751
  4,078
  4,419
  4,773
  5,141
  5,523
  5,920
  6,333
  6,763
  7,209
  7,673
  8,156
  8,659
  9,183
  9,729
  10,298
  10,892
  11,512
  12,159
  12,835
  13,541
  14,279
  15,051
  15,859
  16,704
  17,589
  18,515
  19,485
Total equity, $m
  1,882
  2,062
  2,251
  2,447
  2,651
  2,864
  3,084
  3,314
  3,552
  3,800
  4,058
  4,325
  4,604
  4,894
  5,196
  5,510
  5,838
  6,179
  6,535
  6,907
  7,295
  7,701
  8,124
  8,567
  9,031
  9,515
  10,022
  10,553
  11,109
  11,691
Total liabilities and equity, $m
  5,019
  5,499
  6,002
  6,525
  7,070
  7,637
  8,225
  8,837
  9,472
  10,133
  10,821
  11,534
  12,277
  13,050
  13,855
  14,693
  15,567
  16,477
  17,427
  18,419
  19,454
  20,536
  21,665
  22,846
  24,082
  25,374
  26,726
  28,142
  29,624
  31,176
Debt-to-equity ratio
  0.920
  0.990
  1.040
  1.090
  1.140
  1.180
  1.210
  1.240
  1.270
  1.300
  1.320
  1.340
  1.360
  1.380
  1.400
  1.410
  1.430
  1.440
  1.450
  1.460
  1.470
  1.480
  1.490
  1.500
  1.510
  1.520
  1.530
  1.530
  1.540
  1.550
Adjusted equity ratio
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  282
  315
  348
  383
  420
  458
  497
  538
  580
  625
  785
  833
  883
  934
  988
  1,044
  1,103
  1,164
  1,227
  1,293
  1,363
  1,435
  1,511
  1,590
  1,673
  1,759
  1,850
  1,945
  2,044
  2,148
Depreciation, amort., depletion, $m
  329
  345
  362
  380
  399
  418
  438
  459
  481
  504
  370
  394
  420
  446
  474
  502
  532
  563
  596
  630
  665
  702
  741
  781
  823
  867
  914
  962
  1,013
  1,066
Funds from operations, $m
  611
  660
  711
  764
  819
  876
  935
  997
  1,061
  1,128
  1,155
  1,227
  1,302
  1,380
  1,462
  1,546
  1,635
  1,727
  1,823
  1,923
  2,028
  2,137
  2,251
  2,371
  2,496
  2,627
  2,763
  2,907
  3,057
  3,214
Change in working capital, $m
  47
  49
  52
  54
  56
  58
  61
  63
  65
  68
  71
  73
  76
  79
  83
  86
  90
  94
  98
  102
  106
  111
  116
  121
  127
  133
  139
  145
  152
  160
Cash from operations, $m
  564
  611
  659
  710
  763
  818
  875
  934
  996
  1,060
  1,085
  1,154
  1,226
  1,301
  1,379
  1,460
  1,545
  1,633
  1,725
  1,821
  1,921
  2,026
  2,135
  2,249
  2,369
  2,494
  2,624
  2,761
  2,904
  3,054
Maintenance CAPEX, $m
  -156
  -172
  -188
  -205
  -223
  -242
  -261
  -281
  -302
  -324
  -346
  -370
  -394
  -420
  -446
  -474
  -502
  -532
  -563
  -596
  -630
  -665
  -702
  -741
  -781
  -823
  -867
  -914
  -962
  -1,013
New CAPEX, $m
  -187
  -194
  -203
  -211
  -220
  -228
  -237
  -247
  -256
  -267
  -277
  -288
  -300
  -312
  -325
  -338
  -352
  -367
  -383
  -400
  -418
  -436
  -456
  -476
  -498
  -521
  -545
  -571
  -598
  -626
Cash from investing activities, $m
  -343
  -366
  -391
  -416
  -443
  -470
  -498
  -528
  -558
  -591
  -623
  -658
  -694
  -732
  -771
  -812
  -854
  -899
  -946
  -996
  -1,048
  -1,101
  -1,158
  -1,217
  -1,279
  -1,344
  -1,412
  -1,485
  -1,560
  -1,639
Free cash flow, $m
  222
  245
  269
  294
  320
  348
  376
  406
  438
  470
  461
  496
  532
  570
  608
  649
  690
  734
  779
  826
  874
  925
  978
  1,033
  1,090
  1,149
  1,212
  1,277
  1,344
  1,415
Issuance/(repayment) of debt, $m
  286
  301
  314
  327
  340
  354
  368
  382
  397
  413
  429
  446
  464
  483
  503
  524
  546
  569
  594
  620
  647
  676
  706
  738
  772
  808
  845
  885
  926
  970
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  286
  301
  314
  327
  340
  354
  368
  382
  397
  413
  429
  446
  464
  483
  503
  524
  546
  569
  594
  620
  647
  676
  706
  738
  772
  808
  845
  885
  926
  970
Total cash flow (excl. dividends), $m
  507
  546
  583
  621
  660
  702
  744
  789
  835
  883
  890
  942
  996
  1,053
  1,111
  1,173
  1,236
  1,303
  1,373
  1,445
  1,521
  1,601
  1,684
  1,771
  1,862
  1,957
  2,057
  2,161
  2,271
  2,386
Retained Cash Flow (-), $m
  -175
  -180
  -188
  -196
  -204
  -212
  -221
  -229
  -238
  -248
  -258
  -268
  -279
  -290
  -302
  -314
  -328
  -342
  -356
  -372
  -388
  -405
  -424
  -443
  -463
  -485
  -507
  -531
  -556
  -582
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  333
  365
  394
  425
  456
  489
  524
  559
  597
  635
  633
  675
  718
  763
  810
  858
  909
  961
  1,016
  1,073
  1,133
  1,195
  1,260
  1,328
  1,399
  1,472
  1,550
  1,631
  1,715
  1,803
Discount rate, %
  6.10
  6.41
  6.73
  7.06
  7.41
  7.79
  8.17
  8.58
  9.01
  9.46
  9.94
  10.43
  10.95
  11.50
  12.08
  12.68
  13.32
  13.98
  14.68
  15.41
  16.19
  16.99
  17.84
  18.74
  19.67
  20.66
  21.69
  22.77
  23.91
  25.11
PV of cash for distribution, $m
  313
  323
  324
  323
  319
  312
  302
  289
  274
  257
  223
  205
  186
  166
  146
  127
  109
  91
  75
  61
  49
  38
  29
  22
  16
  11
  8
  5
  3
  2
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment's products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management. The Display and Packaging segment's products and services include point-of-purchase displays; fulfilment; supply chain management, and paperboard specialties. Its Paper and Industrial Converted Products segment provides the raw material for its fiber-based packaging. The Protective Solutions segment's products and services include custom-engineered and expanded foam protective packaging and components, and temperature-assured packaging.

FINANCIAL RATIOS  of  Sonoco Products (SON)

Valuation Ratios
P/E Ratio 19.5
Price to Sales 1.2
Price to Book 3.6
Price to Tangible Book
Price to Cash Flow 13.9
Price to Free Cash Flow 26.2
Growth Rates
Sales Growth Rate -3.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -2.6%
Cap. Spend. - 3 Yr. Gr. Rate 1.7%
Financial Strength
Quick Ratio 8
Current Ratio 0
LT Debt to Equity 66.6%
Total Debt to Equity 68.7%
Interest Coverage 9
Management Effectiveness
Return On Assets 8%
Ret/ On Assets - 3 Yr. Avg. 7.2%
Return On Total Capital 10.9%
Ret/ On T. Cap. - 3 Yr. Avg. 9.5%
Return On Equity 18.8%
Return On Equity - 3 Yr. Avg. 16.6%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 19.6%
Gross Margin - 3 Yr. Avg. 18.8%
EBITDA Margin 14.6%
EBITDA Margin - 3 Yr. Avg. 12.7%
Operating Margin 10.3%
Oper. Margin - 3 Yr. Avg. 8.5%
Pre-Tax Margin 9.2%
Pre-Tax Margin - 3 Yr. Avg. 7.4%
Net Profit Margin 6%
Net Profit Margin - 3 Yr. Avg. 5.2%
Effective Tax Rate 37.2%
Eff/ Tax Rate - 3 Yr. Avg. 32.5%
Payout Ratio 51%

SON stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SON stock intrinsic value calculation we used $5036.65 million for the last fiscal year's total revenue generated by Sonoco Products. The default revenue input number comes from 0001 income statement of Sonoco Products. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SON stock valuation model: a) initial revenue growth rate of 10.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.1%, whose default value for SON is calculated based on our internal credit rating of Sonoco Products, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Sonoco Products.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SON stock the variable cost ratio is equal to 91.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SON stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Sonoco Products.

Corporate tax rate of 27% is the nominal tax rate for Sonoco Products. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SON stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SON are equal to 36.5%.

Life of production assets of 11.8 years is the average useful life of capital assets used in Sonoco Products operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SON is equal to 9.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1707.066 million for Sonoco Products - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 99.602 million for Sonoco Products is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Sonoco Products at the current share price and the inputted number of shares is $5.6 billion.

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COMPANY NEWS

▶ Hedge Funds Are Crazy About Sonoco Products Company (SON)   [Dec-12-18 11:45PM  Insider Monkey]
▶ Sonocos Saunders to Retire After Nearly 30 Years of Service   [Dec-03-18 04:05PM  GlobeNewswire]
▶ Sonoco Announces New Senior Leadership Structure   [Nov-19-18 04:05PM  GlobeNewswire]
▶ Sonoco Products Company (NYSE:SON): Cash Is King   [Nov-15-18 07:02AM  Simply Wall St.]
▶ Sonoco: 3Q Earnings Snapshot   [06:55AM  Associated Press]
▶ Sonoco Reports Third Quarter 2018 Results   [06:45AM  GlobeNewswire]
▶ Q3 Earnings Preview For Sonoco Products   [Oct-17-18 03:06PM  Benzinga]
▶ Sonoco Declares Regular Quarterly Common Stock Dividend   [Oct-15-18 12:25PM  GlobeNewswire]
▶ Sonoco: 2Q Earnings Snapshot   [06:56AM  Associated Press]
▶ Sonoco Declares Regular Quarterly Common Stock Dividend   [Jul-18-18 11:42AM  GlobeNewswire]
▶ Man who challenged black family's use of pool loses job   [Jul-06-18 09:35PM  Associated Press]
▶ Sonoco joins Amazon APASS supplier network   [06:50AM  GlobeNewswire]
▶ Plant City agtech company raises fresh capital   [Jun-12-18 02:59PM  American City Business Journals]
▶ Best-In-Class Dividend Stocks   [Jun-11-18 09:02AM  Simply Wall St.]
▶ Sonoco to Acquire Conitex Sonoco Joint Venture   [May-29-18 06:50AM  GlobeNewswire]
▶ Top NYSE Dividend Paying Companies   [09:02AM  Simply Wall St.]
▶ Sonoco: 1Q Earnings Snapshot   [Apr-19-18 07:00AM  Associated Press]
▶ Sonoco Increases Common Stock Dividend by 5.1 Percent   [Apr-18-18 12:01PM  GlobeNewswire]
▶ Sonoco Welcomes Robert C. Tiede as President and CEO   [Apr-02-18 06:50AM  GlobeNewswire]
▶ Plant City packaging company sells for $150 million   [Mar-29-18 07:23AM  American City Business Journals]

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