Intrinsic value of Sonoco Products - SON

Previous Close

$56.45

  Intrinsic Value

$38.89

stock screener

  Rating & Target

sell

-31%

Previous close

$56.45

 
Intrinsic value

$38.89

 
Up/down potential

-31%

 
Rating

sell

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 2017), $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
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
  5.14
  5.13
  5.12
  5.10
  5.09
  5.08
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
  5.02
  5.02
  5.02
  5.02
  5.02
  5.01
Revenue, $m
  5,304
  5,583
  5,876
  6,183
  6,504
  6,841
  7,194
  7,564
  7,952
  8,359
  8,785
  9,233
  9,702
  10,195
  10,712
  11,254
  11,823
  12,420
  13,046
  13,704
  14,394
  15,119
  15,879
  16,677
  17,515
  18,395
  19,318
  20,287
  21,305
  22,373
Variable operating expenses, $m
  4,866
  5,114
  5,374
  5,646
  5,932
  6,230
  6,544
  6,872
  7,217
  7,578
  7,799
  8,197
  8,613
  9,051
  9,509
  9,991
  10,496
  11,026
  11,582
  12,166
  12,779
  13,422
  14,097
  14,806
  15,549
  16,330
  17,150
  18,010
  18,914
  19,862
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
  4,866
  5,114
  5,374
  5,646
  5,932
  6,230
  6,544
  6,872
  7,217
  7,578
  7,799
  8,197
  8,613
  9,051
  9,509
  9,991
  10,496
  11,026
  11,582
  12,166
  12,779
  13,422
  14,097
  14,806
  15,549
  16,330
  17,150
  18,010
  18,914
  19,862
Operating income, $m
  438
  469
  502
  537
  573
  610
  650
  692
  735
  781
  986
  1,036
  1,089
  1,144
  1,202
  1,263
  1,327
  1,394
  1,464
  1,538
  1,615
  1,697
  1,782
  1,872
  1,966
  2,064
  2,168
  2,277
  2,391
  2,511
EBITDA, $m
  865
  910
  958
  1,008
  1,060
  1,115
  1,173
  1,233
  1,296
  1,363
  1,432
  1,505
  1,582
  1,662
  1,746
  1,835
  1,927
  2,025
  2,127
  2,234
  2,347
  2,465
  2,589
  2,719
  2,855
  2,999
  3,149
  3,307
  3,473
  3,647
Interest expense (income), $m
  53
  78
  86
  95
  104
  113
  123
  133
  144
  155
  167
  180
  193
  206
  221
  236
  251
  268
  285
  304
  323
  343
  364
  386
  409
  434
  459
  486
  514
  544
  575
Earnings before tax, $m
  360
  383
  407
  433
  460
  488
  517
  548
  580
  614
  806
  844
  883
  924
  967
  1,012
  1,059
  1,109
  1,161
  1,215
  1,273
  1,333
  1,396
  1,462
  1,532
  1,605
  1,682
  1,763
  1,847
  1,936
Tax expense, $m
  97
  103
  110
  117
  124
  132
  140
  148
  157
  166
  218
  228
  238
  249
  261
  273
  286
  299
  313
  328
  344
  360
  377
  395
  414
  433
  454
  476
  499
  523
Net income, $m
  263
  280
  297
  316
  336
  356
  377
  400
  423
  448
  589
  616
  644
  674
  706
  738
  773
  809
  847
  887
  929
  973
  1,019
  1,068
  1,118
  1,172
  1,228
  1,287
  1,348
  1,413

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
  4,800
  5,053
  5,318
  5,595
  5,886
  6,191
  6,510
  6,845
  7,196
  7,564
  7,951
  8,356
  8,780
  9,226
  9,694
  10,184
  10,699
  11,240
  11,807
  12,402
  13,026
  13,682
  14,370
  15,093
  15,851
  16,647
  17,482
  18,359
  19,280
  20,247
Adjusted assets (=assets-cash), $m
  4,800
  5,053
  5,318
  5,595
  5,886
  6,191
  6,510
  6,845
  7,196
  7,564
  7,951
  8,356
  8,780
  9,226
  9,694
  10,184
  10,699
  11,240
  11,807
  12,402
  13,026
  13,682
  14,370
  15,093
  15,851
  16,647
  17,482
  18,359
  19,280
  20,247
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
  2,694
  2,836
  2,985
  3,141
  3,304
  3,475
  3,654
  3,842
  4,040
  4,246
  4,463
  4,690
  4,929
  5,179
  5,442
  5,717
  6,006
  6,309
  6,628
  6,962
  7,312
  7,680
  8,067
  8,472
  8,898
  9,344
  9,814
  10,306
  10,823
  11,365
Working capital, $m
  -80
  -84
  -88
  -93
  -98
  -103
  -108
  -113
  -119
  -125
  -132
  -138
  -146
  -153
  -161
  -169
  -177
  -186
  -196
  -206
  -216
  -227
  -238
  -250
  -263
  -276
  -290
  -304
  -320
  -336
Total debt, $m
  1,597
  1,755
  1,920
  2,094
  2,275
  2,466
  2,666
  2,875
  3,094
  3,324
  3,566
  3,819
  4,084
  4,363
  4,655
  4,962
  5,284
  5,621
  5,976
  6,348
  6,738
  7,148
  7,578
  8,029
  8,503
  9,001
  9,523
  10,071
  10,647
  11,251
Total liabilities, $m
  3,000
  3,158
  3,324
  3,497
  3,679
  3,869
  4,069
  4,278
  4,498
  4,728
  4,969
  5,222
  5,488
  5,766
  6,059
  6,365
  6,687
  7,025
  7,379
  7,751
  8,142
  8,551
  8,981
  9,433
  9,907
  10,404
  10,926
  11,475
  12,050
  12,654
Total equity, $m
  1,800
  1,895
  1,994
  2,098
  2,207
  2,322
  2,441
  2,567
  2,699
  2,837
  2,981
  3,133
  3,293
  3,460
  3,635
  3,819
  4,012
  4,215
  4,428
  4,651
  4,885
  5,131
  5,389
  5,660
  5,944
  6,243
  6,556
  6,885
  7,230
  7,593
Total liabilities and equity, $m
  4,800
  5,053
  5,318
  5,595
  5,886
  6,191
  6,510
  6,845
  7,197
  7,565
  7,950
  8,355
  8,781
  9,226
  9,694
  10,184
  10,699
  11,240
  11,807
  12,402
  13,027
  13,682
  14,370
  15,093
  15,851
  16,647
  17,482
  18,360
  19,280
  20,247
Debt-to-equity ratio
  0.890
  0.930
  0.960
  1.000
  1.030
  1.060
  1.090
  1.120
  1.150
  1.170
  1.200
  1.220
  1.240
  1.260
  1.280
  1.300
  1.320
  1.330
  1.350
  1.360
  1.380
  1.390
  1.410
  1.420
  1.430
  1.440
  1.450
  1.460
  1.470
  1.480
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
  263
  280
  297
  316
  336
  356
  377
  400
  423
  448
  589
  616
  644
  674
  706
  738
  773
  809
  847
  887
  929
  973
  1,019
  1,068
  1,118
  1,172
  1,228
  1,287
  1,348
  1,413
Depreciation, amort., depletion, $m
  427
  441
  456
  471
  488
  505
  523
  542
  561
  582
  446
  469
  493
  518
  544
  572
  601
  631
  663
  696
  731
  768
  807
  847
  890
  934
  981
  1,031
  1,082
  1,137
Funds from operations, $m
  689
  721
  753
  787
  823
  861
  900
  941
  985
  1,030
  1,035
  1,085
  1,137
  1,192
  1,250
  1,310
  1,374
  1,440
  1,510
  1,583
  1,660
  1,741
  1,826
  1,915
  2,008
  2,106
  2,209
  2,317
  2,431
  2,550
Change in working capital, $m
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -15
  -16
Cash from operations, $m
  693
  725
  758
  792
  828
  866
  905
  947
  990
  1,036
  1,041
  1,092
  1,144
  1,200
  1,257
  1,318
  1,382
  1,449
  1,519
  1,593
  1,671
  1,752
  1,837
  1,927
  2,021
  2,119
  2,223
  2,332
  2,446
  2,566
Maintenance CAPEX, $m
  -256
  -269
  -284
  -299
  -314
  -330
  -348
  -365
  -384
  -404
  -425
  -446
  -469
  -493
  -518
  -544
  -572
  -601
  -631
  -663
  -696
  -731
  -768
  -807
  -847
  -890
  -934
  -981
  -1,031
  -1,082
New CAPEX, $m
  -135
  -142
  -149
  -156
  -163
  -171
  -179
  -188
  -197
  -207
  -217
  -227
  -238
  -250
  -263
  -275
  -289
  -303
  -318
  -334
  -351
  -368
  -386
  -405
  -426
  -447
  -469
  -492
  -517
  -543
Cash from investing activities, $m
  -391
  -411
  -433
  -455
  -477
  -501
  -527
  -553
  -581
  -611
  -642
  -673
  -707
  -743
  -781
  -819
  -861
  -904
  -949
  -997
  -1,047
  -1,099
  -1,154
  -1,212
  -1,273
  -1,337
  -1,403
  -1,473
  -1,548
  -1,625
Free cash flow, $m
  303
  313
  325
  338
  351
  364
  379
  393
  409
  425
  400
  418
  437
  456
  477
  499
  521
  545
  570
  596
  624
  653
  683
  715
  748
  783
  820
  858
  898
  941
Issuance/(repayment) of debt, $m
  149
  158
  166
  173
  182
  190
  200
  209
  219
  230
  241
  253
  266
  279
  292
  307
  322
  338
  354
  372
  390
  410
  430
  451
  474
  497
  522
  548
  576
  604
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  
  149
  158
  166
  173
  182
  190
  200
  209
  219
  230
  241
  253
  266
  279
  292
  307
  322
  338
  354
  372
  390
  410
  430
  451
  474
  497
  522
  548
  576
  604
Total cash flow (excl. dividends), $m
  452
  471
  491
  511
  532
  555
  578
  603
  628
  656
  641
  671
  702
  735
  769
  805
  843
  883
  925
  968
  1,014
  1,062
  1,113
  1,166
  1,222
  1,280
  1,342
  1,406
  1,474
  1,545
Retained Cash Flow (-), $m
  -93
  -95
  -99
  -104
  -109
  -114
  -120
  -126
  -132
  -138
  -145
  -152
  -159
  -167
  -175
  -184
  -193
  -203
  -213
  -223
  -234
  -246
  -258
  -271
  -284
  -298
  -313
  -329
  -345
  -363
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
  15
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  28
  29
  31
  32
  34
  35
  37
  39
  41
  43
  45
  48
  50
  53
  55
  58
  61
  64
Cash available for distribution, $m
  359
  377
  392
  407
  423
  441
  458
  477
  497
  517
  497
  519
  543
  568
  594
  621
  650
  680
  712
  745
  780
  817
  855
  895
  938
  982
  1,028
  1,077
  1,129
  1,183
Discount rate, %
  6.30
  6.62
  6.95
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.78
  11.31
  11.88
  12.47
  13.10
  13.75
  14.44
  15.16
  15.92
  16.72
  17.55
  18.43
  19.35
  20.32
  21.33
  22.40
  23.52
  24.70
  25.93
PV of cash for distribution, $m
  338
  331
  320
  307
  293
  277
  260
  242
  223
  204
  170
  152
  135
  118
  102
  87
  73
  60
  49
  39
  30
  23
  17
  13
  9
  6
  4
  3
  2
  1
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 19.6
Price to Sales 1.2
Price to Book 3.7
Price to Tangible Book
Price to Cash Flow 14
Price to Free Cash Flow 26.4
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 $5037 million for the last fiscal year's total revenue generated by Sonoco Products. The default revenue input number comes from 2017 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 5.3% 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 6.3%, 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 0.3%.

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 50.8%.

Life of production assets of 10 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 -1.5%. 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 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 100 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

▶ 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]
▶ Sonoco to Acquire Highland Packaging Solutions   [Mar-22-18 06:45AM  GlobeNewswire]
▶ Sonoco Issues 2017 Annual Report to Shareholders   [Mar-19-18 06:50AM  GlobeNewswire]
▶ Top Ranked Income Stocks to Buy for March 8th   [Mar-08-18 07:14AM  Zacks]
▶ February Materials Dividend Stocks To Look Out For   [Feb-25-18 01:02PM  Simply Wall St.]
▶ Sonoco Products Company to Host Earnings Call   [Feb-15-18 09:10AM  ACCESSWIRE]
▶ Sonoco misses 4Q profit forecasts   [08:07AM  Associated Press]
▶ Sonoco Declares Regular Quarterly Common Stock Dividend   [Feb-14-18 12:02PM  GlobeNewswire]
▶ Top Rated NYSE Dividend Stocks   [08:02AM  Simply Wall St.]
▶ Best Rated NYSE Materials Dividend Stocks   [Jan-07-18 01:02PM  Simply Wall St.]
▶ Sonoco-Alcore to Increase Paperboard Prices in Europe   [Dec-11-17 04:32PM  GlobeNewswire]
▶ Sonoco Products CEO Jack Sanders to retire   [Nov-28-17 09:32AM  MarketWatch]
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