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Sonoco Prods

Over its 100-year-plus history, Sonoco Products has steadily assembled a diverse portfolio of industrial and consumer packaging product offerings such as flexible and rigid plastics, reels and spools, pallets, and composite cans. The company serves a variety of consumer and industrial end markets throughout North America. Sonoco has raised its dividend each year for more than 40 years.

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SON to acquire Eviosys for EUR3.615 billion, creating global leader in metal food can &amp; aerosol packaging. Expected to increase EPS by 25% in 2025.

Sonoco Spends Big: Shakes Up Metal Packaging with $3.9B Eviosys Deal

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The market expects Sonoco (NYSE: SON) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter that ended March 2023.

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In the latest quarter, 4 analysts provided ratings for Sonoco Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>), 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.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
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 is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1721390430_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of Sonoco Prods among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Matt Roberts</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$62.00</td>
<td>-</td>
</tr>
<tr>
<td>Gabe Hajde</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$55.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>Anthony Pettinari</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$60.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Gabe Hajde</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$57.00</td>
<td>$56.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Sonoco Prods. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Sonoco Prods compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Sonoco Prods's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Sonoco Prods's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/SON/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Sonoco Prods analyst ratings.</a>
<h2>Get to Know Sonoco Prods Better</h2>
Over its 100-year-plus history, Sonoco Products has steadily assembled a diverse portfolio of industrial and consumer packaging product offerings such as flexible and rigid plastics, reels and spools, pallets, and composite cans. The company serves a variety of consumer and industrial end markets throughout North America. Sonoco has raised its dividend each year for more than 40 years.
<h3>Sonoco Prods: A Financial Overview</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: Sonoco Prods's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -5.33%. This indicates a decrease in top-line earnings. When compared to others in the Materials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Sonoco Prods's net margin is impressive, surpassing industry averages. With a net margin of 3.98%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Sonoco Prods's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 2.69%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Sonoco Prods's ROA excels beyond industry benchmarks, reaching 0.91%. This signifies efficient management of assets and strong financial health.
Debt Management: Sonoco Prods's debt-to-equity ratio is below the industry average at 1.39, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>How Are Analyst Ratings Determined?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Breaking Down Sonoco Prods: 4 Analysts Share Their Views

Raymond James analyst Matt Roberts initiates coverage on Sonoco Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) with a Outperform rating and announces Price Target of $62.

Initiation

Raymond James Initiates Coverage On Sonoco Prods with Outperform Rating, Announces Price Target of $62

Wells Fargo analyst Gabe Hajde maintains Sonoco Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) with a Equal-Weight and lowers the price target from $57 to $55.

Wells Fargo Maintains Equal-Weight on Sonoco Prods, Lowers Price Target to $55

Citigroup analyst Anthony Pettinari maintains Sonoco Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) with a Buy and lowers the price target from $64 to $60.

Citigroup Maintains Buy on Sonoco Prods, Lowers Price Target to $60

Sonoco Products Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) shares are trading lower after the company inked an agreement to buy Eviosys for around <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/g39451366/sonoco-to-acquire-eviosys-creating-the-worlds-leading-metal-food-can-and-aerosol-packaging-platfor" rel="noreferrer noopener">EUR3.615 billion ($3.9 billion) on a cash-free, debt-free basis</a>.
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&#8217;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 financing the transaction with new debt and up to $500 million from equity issuance, including a $200 million investment from KPS.
The proceeds from divestitures and operational cash flow will help Sonoco reduce net leverage to below 3.0x within 24 months.
The Boards of Directors of both companies have unanimously approved the transaction, which is expected to close by the end of 2024, pending regulatory approvals.
Post-deal closure, the company is projected to be a prominent player globally in manufacturing metal food cans and aerosol packaging.
Synergies: Sonoco expects to achieve over $100 million in synergies from integrating Eviosys with its metal can business.
Sonoco projects Eviosys to achieve around $2.5 billion in revenue and approximately $430 million in adjusted EBITDA for 2024, highlighting significant commercial and operational momentum with a nearly 50% <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">increase in EBITDA since 2021</a>.
Sonoco expects the transaction to immediately increase adjusted EPS and project over a 25% increase for 2025.
Eviosys generates strong operating cash flow, and post-acquisition, Sonoco anticipates a nearly 40% growth in EBITDA minus capital expenditures by 2025.
The acquisition is expected to deliver a return on invested capital exceeding Sonoco&#8217;s cost of capital from year one.
By merging Eviosys&#8217;s dominant presence in EMEA with Sonoco&#8217;s established footprint in the U.S., Sonoco expands its global market potential in metal packaging to approximately $25 billion.
Howard Coker, President and Chief Executive Officer of Sonoco said, &#8220;The acquisition of Eviosys establishes our global leadership in metal food can and aerosol packaging, marking an exciting milestone in our strategy to scale our core strategic metal packaging platform and position Sonoco for long-term value creation.&#8221;
Also, Sonoco plans to divest ThermoSafe, its top temperature-assured packaging business, along with other assets, aiming to generate at least $1 billion in proceeds over the next twelve to eighteen months.
As of March&nbsp;31, 2024, Sonoco&#8217;s <a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38533123/sonoco-reports-first-quarter-2024-results" rel="noreferrer noopener">cash and cash equivalents were $172 million</a>.
Investors can gain exposure to the stock via Roundhill ETF Trust Roundhill S&amp;P Dividend Monarchs ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNGS#NYSE">KNGS</a>) and ProShares S&amp;P MidCap 400 Dividend Aristocrats ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/REGL#BATS">REGL</a>).
Price Action: SON shares are down 1.108% at $54.99 premarket at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image sourced from Shutterstock

Sonoco Products Company (&quot;Sonoco&quot; or the &quot;Company&quot;) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>), a global leader in high-value sustainable packaging, today announced it has entered into an agreement to acquire Eviosys, Europe&#39;s leading food cans, ends and closures manufacturer, from KPS Capital Partners, LP (&quot;KPS&quot;) for approximately&nbsp;$3.9 billion&nbsp;(the &quot;Transaction&quot;).
The Transaction accelerates Sonoco&#39;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&#39;s metal business and Eviosys have meaningful commercial momentum and the Transaction facilitates Sonoco&#39;s ability to partner with customers and lead with innovation and sustainability.
Eviosys is a leading global supplier of metal packaging, producing food cans and ends, aerosol cans, metal closures and promotional packaging to preserve the products of hundreds of consumer brands. Eviosys has the largest metal food can manufacturing footprint in the EMEA region, with approximately 6,300 employees in 44 manufacturing facilities across 17 countries. Sonoco estimates Eviosys&#39;s 2024 revenues will be approximately&nbsp;$2.5 billion&nbsp;and its 2024 adjusted EBITDA will be approximately&nbsp;$430 million. Eviosys has meaningful commercial and operational momentum and has increased EBITDA by approximately&nbsp;50%&nbsp;since 2021.
Sonoco expects to achieve over&nbsp;$100 million&nbsp;of synergies from the integration of Eviosys with Sonoco&#39;s complementary metal can business. Rodger Fuller, Sonoco&#39;s Chief Operating Officer, will lead the integration with a focus on customer and supplier relationships, employee continuity, operational excellence, and synergy realization, while combining the best of Sonoco&#39;s culture with the rich history and heritage of Eviosys.

Sonoco to Acquire Eviosys for $3.9B from KPS Capital Partners

This is&nbsp;effective with shipments in the United States and Canada, on or after July 10th, 2024. This includes tubes, cores, cones and protective packaging.

Sonoco To Raise Price For All Converted Paperboard Products By Minimum Of 6%

Greif, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gef#NYSE">GEF</a>) reported adjusted earnings per share of 82 cents in second-quarter fiscal 2024 (ended Apr 30, 2024), which surpassed the Zacks Consensus Estimate of 77 cents. The bottom line fell 54% year over year. Results were impacted by elevated raw material, transportation and manufacturing costs, and higher SG&amp;A expenses, reflecting increased compensation expenses and costs incurred for strategic investments. 
Including one-time items, EPS was 77 cents in the quarter compared with $1.90 in the prior-year quarter.
<h3>Operational Update</h3>
Sales rose 4.1% year over year to $1.37 billion. The top line surpassed the Zacks Consensus Estimate of $1.31 billion. 
The cost of sales rose 10.4% year over year to $1.1 billion. Gross profit amounted to $270 million, down 13.4% from the prior-year quarter. The gross margin came in at 19.7% compared with the prior-year quarter&#39;s 23.8%. 
Selling, general and administrative (SG&amp;A) expenses were $167 million, up 21.9% year over year. Adjusted EBITDA decreased 25.7% year over year to $170 million in the fiscal second quarter.
<div class="chart_embed">
<h3>Greif, Inc. Price, Consensus and EPS Surprise</h3>
<h3><a href="https://www.zacks.com/stock/chart/GEF/price-consensus-eps-surprise-chart?icid=chart-GEF-price-consensus-eps-surprise-chart"><img alt="Greif, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/b7/1717677675.png" style="height:285px; width:620px" title="" /> </a></h3>
Greif, Inc. price-consensus-eps-surprise-chart | Greif, Inc. Quote
</div>
<h3>Segmental Performance</h3>
Sales in the Global Industrial Packaging segment rose 7.6% year over year to $805 million. Our model projected revenues of $748 million for the quarter. The segment&#39;s adjusted EBITDA amounted to $118 million compared with the year-ago quarter&#39;s $121 million. 
The Paper Packaging segment&#39;s sales increased 1.1% year over year to $561 million in the fiscal second quarter. The figure surpassed our estimated sales of $548 million. The segment&#39;s adjusted EBITDA fell to $49 million from the prior-year quarter&#39;s $105 million. 
The Land Management segment&#39;s sales totaled $5.4 million in the reported quarter compared with $5.9 million in the year-ago quarter. We projected the segment&#39;s sales to be $5.7 million in the quarter. Adjusted EBITDA was $2.6 million compared with the year-earlier quarter&#39;s $2.5 million.
<h3>Financial Position</h3>
Greif reported cash and cash equivalents of $196 million at the end of second-quarter fiscal 2024 compared with $181 million at the end of fiscal 2023. Cash flow from operating activities totaled $88 million in the quarter under review compared with $211 million in the prior-year quarter. 
Long-term debt amounted to $2.78 billion as of Apr 30, 2024, compared with $2.12 billion as of Oct 31, 2023. 
On Jun 3, Greif&#39;s board announced a quarterly cash dividend of 52 cents per share of Class A Common Stock and 78 cents per share of Class B Common Stock. The dividends will be paid out on Jul 1 to shareholders of record at the close of business as of Jun 1, 2024.
<h3>Outlook</h3>
Greif expects fiscal 2024 adjusted EBITDA between $675 million and $725 million, up from the prior announced $610 million. The adjusted free cash flow is anticipated between $175 million and $225 million.
<h3>Price Performance</h3>
GEF shares have gained 1.2% in the past year compared with the industry&#39;s growth of 14.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/80/68313.jpg?v=410093733" /> 
Image Source: Zacks Investment Research
<h3>Zacks Rank</h3>
Greif currently carries a Zacks Rank #3 (Hold).
<h3>Performances of Other Packaging Stocks</h3>
AptarGroup, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/atr#NYSE">ATR</a>) reported a first-quarter 2024 (ended Mar 31, 2024) adjusted EPS of $1.26, beating the Zacks Consensus Estimate of $1.13. The bottom line increased 31% from 95 cents (including comparable exchange rates) per share in the year-ago quarter, aided by strong sales growth in the Pharma business, and a continued margin expansion in the Beauty and Closures businesses. 
AptarGroup&#39;s total revenues increased 6.4% year over year to $915 million, surpassing the Zacks Consensus Estimate of $897 million. Core sales, excluding currency and acquisition effects, improved 5% year over year. 
Sonoco Products Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/son#NYSE">SON</a>) reported an adjusted EPS of $1.12 in the first quarter of 2024 (ended Mar 31, 2024), beating the Zacks Consensus Estimate of $1.08. The bottom line fell 20% from the prior-year quarter as gains from improved productivity were offset by price/cost pressures and lower volumes. 
Sonoco&#39;s net sales were $1.64 billion, which lagged the consensus estimate of $1.69 billion. The top line declined 5.3% year over year on lower volumes and pricing, somewhat offset by acquisitions. 
Packaging Corporation of America (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pkg#NYSE">PKG</a>) reported an adjusted EPS of $1.72 in the first quarter of 2024 (ended Mar 31, 2024), beating the Zacks Consensus Estimate of $1.63. The bottom line dipped 22% year over year mainly due to lower prices, and a mix in the Packaging and Paper segments. These were partially offset by higher volumes in the Packaging and Paper segments. 
PKG&#39;s sales in the quarter rose 0.2% year over year to $1.98 billion. The top line surpassed the Zacks Consensus Estimate of $1.91 billion.
<a href="https://www.zacks.com/stock/news/2284739/greif-gef-q2-earnings-beat-estimates-sales-increase-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2284739">To read this article on Zacks.com click here.</a>

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 <a href="https://www.benzinga.com/yield-investments">high dividend payout</a>. 
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the materials sector.
<h3 class="wp-block-heading">Sonoco Products Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>)</h3>
<ul>
<li>Dividend Yield: 3.47%</li>
<li>Citigroup analyst Anthony Pettinari maintained a Buy rating and cut the price target from $66 to $65 on April 4. This analyst has an accuracy rate of 79%.</li>
<li>Argus Research analyst David Coleman downgraded the stock from Buy to Hold on Aug. 3, 2023. This analyst has an accuracy rate of 63%.</li>
<li>Recent News: On April 30, Sonoco posted better-than-expected quarterly earnings.</li>
<li><a href="https://pro.benzinga.com/dashboard">Benzinga Pro's real-time newsfeed</a> alerted to latest Sonoco news</li>
</ul>
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="571" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31045123/Screenshot-2024-05-31-at-2.21.15-PM-1024x571.png" alt="" class="wp-image-364814" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31045123/Screenshot-2024-05-31-at-2.21.15-PM-1024x571.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31045123/Screenshot-2024-05-31-at-2.21.15-PM-300x167.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31045123/Screenshot-2024-05-31-at-2.21.15-PM-768x428.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31045123/Screenshot-2024-05-31-at-2.21.15-PM.png 1379w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
<h3 class="wp-block-heading">Huntsman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUN#NYSE">HUN</a>)</h3>
<ul>
<li>Dividend Yield: 4.05%</li>
<li>Wells Fargo analyst Michael Sison upgraded the rating from Equal-Weight to Overweight on Feb. 23. This analyst has an accuracy rate of 72%.</li>
<li>Stifel analyst Vincent Anderson maintained a Buy rating and cut the price target from $30 to $29 on Jan. 24. This analyst has an accuracy rate of 71%.</li>
<li>Recent News: On May 2, Huntsman posted weak quarterly sales.</li>
<li>Benzinga Pro's charting tool helped identify the <a href="https://pro.benzinga.com/dashboard">trend in Huntsman's stock</a>.</li>
</ul>
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="560" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31045213/Screenshot-2024-05-31-at-2.22.06-PM-1024x560.png" alt="" class="wp-image-364815" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31045213/Screenshot-2024-05-31-at-2.22.06-PM-1024x560.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31045213/Screenshot-2024-05-31-at-2.22.06-PM-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31045213/Screenshot-2024-05-31-at-2.22.06-PM-768x420.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31045213/Screenshot-2024-05-31-at-2.22.06-PM.png 1380w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
<h3 class="wp-block-heading">The Chemours Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CC#NYSE">CC</a>)</h3>
<ul>
<li>Dividend Yield: 3.91%</li>
<li>BMO Capital analyst John McNulty upgraded the stock from Market Perform to Outperform and boosted the price target from $19 to $34 on April 9. This analyst has an accuracy rate of 65%.</li>
<li>UBS analyst Joshua Spectormaintained a Neutral rating and raised the price target from $21 to $28 on April 2. This analyst has an accuracy rate of 65%.</li>
<li>Recent News: On April 30, Chemours posted better-than-expected quarterly sales.</li>
<li>Benzinga Pro's signals feature notified of a potential <a href="https://pro.benzinga.com/dashboard">breakout in Chemours shares</a>.</li>
</ul>
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Wall Street's Most Accurate Analysts' Views On 3 Materials Stocks With Over 3% Dividend Yields

Sonoco Products Opens Sonoco Metal Packaging Technical & Engineering Center

Wells Fargo analyst Gabe Hajde maintains Sonoco Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) with a Equal-Weight and raises the price target from $56 to $57.

Wells Fargo Maintains Equal-Weight on Sonoco Prods, Raises Price Target to $57

Sonoco Prods Sees FY24 Adj. EPS $5.00-$5.30 Vs $5.07 Est.

Sonoco Prods Sees Q2 2024 Adj. EPS $1.25-$1.35 Vs $1.30 Est.

Sonoco Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) reported quarterly earnings of $1.12 per share which beat the analyst consensus estimate of $1.05 by 6.67 percent. This is a 20 percent decrease over earnings of $1.40 per share from the same period last year. The company reported quarterly sales of $1.638 billion which missed the analyst consensus estimate of $1.675 billion by 2.20 percent. This is a 5.32 percent decrease over sales of $1.730 billion the same period last year.

Earnings Misses

Sonoco Prods Q1 2024 Adj EPS $1.12 Beats $1.05 Estimate, Sales $1.638B Miss $1.675B Estimate

Sonoco Implementing 6% Price Increase For Tubes And Cores in Mexico

The Board of Directors of&nbsp;Sonoco&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) today increased its quarterly common stock dividend to&nbsp;$0.52&nbsp;per share from the previous quarterly distribution of&nbsp;$0.51&nbsp;per share. This new dividend will be paid on&nbsp;June 10, 2024, to shareholders of record as of&nbsp;May 10, 2024. &nbsp;
With this increase, Sonoco's annualized dividend payout moves to&nbsp;$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&nbsp;Howard Coker, President and Chief Executive Officer, this is the 396th&nbsp;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&nbsp;April 15, 2024, the Company's dividend provides an approximate 3.6 percent yield, which is more than double the dividend yield of the S&amp;P 500 Index.

Sonoco Increases Quarterly Stock Dividend From $0.51 To $0.52 Per Share

Under the VPPA and subject to certain conditions, Sonoco and ENGIE have agreed to contract for an estimated 140 megawatts of electricity per year, representing approximately&nbsp;48%&nbsp;of Sonoco&#39;s U.S. electricity consumption in 2025 and approximately&nbsp;52%&nbsp;of the expected output capacity of Big Sampson, for a term of 15 years commencing upon Big Sampson&#39;s entry into commercial operation.

Contracts

ENGQF

Sonoco Products, ENGIE North America Enter Virtual Power Purchase Agreement For Production from Big Sampson Wind Project

Citigroup analyst Anthony Pettinari maintains Sonoco Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) with a Buy and lowers the price target from $66 to $65.

Citigroup Maintains Buy on Sonoco Prods, Lowers Price Target to $65

Sonoco To Implement Price Increase Of €60 Per Ton (£50 For UK Market) For Uncoated Recycled Paperboard In Europe

On March 25, Robert Dillard, Chief Strategy Officer at Sonoco Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) executed a significant insider buy, as disclosed in the latest SEC filing.
What Happened: In a Form 4 filing on Monday with the <a href="https://www.sec.gov/Archives/edgar/data/0000091767/000122520824004467//Archives/edgar/data/91767/000122520824004467/0001225208-24-004467-index.htm">U.S. Securities and Exchange Commission</a>, it was disclosed that Dillard bought 6,972 shares of Sonoco Prods, amounting to a total of $389,525.
As of Monday morning, Sonoco Prods shares are up by 0.32%, currently priced at $56.61.
<h3>Delving into Sonoco Prods's Background</h3>
Over its 100-year-plus history, Sonoco Products has steadily assembled a diverse portfolio of industrial and consumer packaging product offerings such as flexible and rigid plastics, reels and spools, pallets, and composite cans. The company serves a variety of consumer and industrial end markets throughout North America. Sonoco has raised its dividend each year for more than 30 years.
<h3>Breaking Down Sonoco Prods's Financial Performance</h3>
Negative Revenue Trend: Examining Sonoco Prods's financials over 3 months reveals challenges. As of 31 December, 2023, the company experienced a decline of approximately -2.4% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Materials sector, the company excelled with a growth rate higher than the average among peers.
Evaluating Earnings Performance:
<ul>
<li>
Gross Margin: The company issues a cost efficiency warning with a low gross margin of 20.76%, indicating potential difficulties in maintaining profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Sonoco Prods's EPS is below the industry average. The company faced challenges with a current EPS of 0.829369. This suggests a potential decline in earnings.
</li>
</ul>
Debt Management: Sonoco Prods's debt-to-equity ratio is below the industry average at 1.38, reflecting a lower dependency on debt financing and a more conservative financial approach.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 11.76 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 0.82 is below industry norms, suggesting potential undervaluation and presenting an investment opportunity for those considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Sonoco Prods's EV/EBITDA ratio at 7.99 suggests potential undervaluation, falling below industry averages.
</li>
</ul>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
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<h3>Navigating the Impact of Insider Transactions on Investments</h3>
While insider transactions should not be the sole basis for making investment decisions, they can play a significant role in an investor's decision-making process.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Unlocking the Meaning of Transaction Codes</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000091767">Check Out The Full List Of Sonoco Prods's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Chief Strategy Officer At Sonoco Prods Buys $389K of Stock

There's a lot to be optimistic about in the Consumer Cyclical sector as 3 analysts just weighed in on Yum China Holdings (YUMC – Research Report), ...

Analysts Offer Insights on Consumer Cyclical Companies: Yum China Holdings (YUMC), Sonoco Products (SON) and Amazon (AMZN)

George Staphos, an analyst from Bank of America Securities, maintained the Buy rating on Sonoco Products (SON – Research Report). The associated pr...

Buy Rating Affirmed: Sonoco's Strategic Acquisition of Eviosys Poised to Enhance Financials and Market Position

Ghansham Panjabi, an analyst from Robert W. Baird, maintained the Hold rating on Sonoco Products (SON – Research Report). The associated price targ...

Evaluating Sonoco's Strategic Acquisition of Eviosys: A Cautious Hold Amid Synergies and Uncertainties

Seaport Global analyst Mark Weintraub reiterated a Buy rating on Sonoco Products (SON – Research Report) today and set a price target of $65.00. Th...

Seaport Global Sticks to Their Buy Rating for Sonoco Products (SON)

The packaging industry is gaining momentum due to the rise of e-commerce, sustainability concerns, and the need for product safety. As businesses depend on packaging solutions for delivering goods, the industry becomes crucial for economic growth. Given this backdrop, investors could consider buying undervalued packaging stocks, such as Sealed Air (SEE) and Sonoco Products (SON) today. Read on… The packaging sector demonstrated impressive robustness despite enduring geopolitical turmoil and high interest rates. The sector is primed for considerable growth, fueled by a resounding upswing in global economic endeavors and rapid industrialization.
Given this backdrop, investors could consider buying undervalued packaging stocks Sealed Air Corporation (<a href="https://stocknews.com/stock/SEE/">SEE</a>) and Sonoco Products Company (<a href="https://stocknews.com/stock/SON/">SON</a>) today.
The rise of e-commerce and the shift toward online shopping has led to a surge in demand for packaging materials to safely transport products to consumers. This has created a need for innovative and sustainable packaging solutions to meet the diverse needs of the market.
Additionally, the growing emphasis on sustainability and environmental consciousness has pushed the industry to develop eco-friendly packaging options. Consumers are increasingly looking for products packaged in recyclable, biodegradable, or reusable materials, driving the industry to adopt more sustainable practices.
Moreover, the packaging industry plays a critical role in ensuring the safety and security of products during transportation and storage. With the globalization of supply chains, businesses are relying on robust packaging solutions to protect goods as they travel across long distances and through various modes of transport. The industrial packaging market is estimated to reach $93.45 billion by 2029, growing at a <a href="https://www.mordorintelligence.com/industry-reports/industrial-packaging-market">7.1% CAGR</a>.
Considering these factors, let's examine the fundamentals of the <a href="https://stocknews.com/category/industrial-packaging/">Industrial - Packaging</a> stock picks, starting with the second in line.
Stock #2: Sealed Air Corporation (<a href="https://stocknews.com/stock/SEE/">SEE</a>)
SEE provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments: Food and Protective.
On April 24, 2024, SEE and Ossid launched a new global partnership to provide case-ready processors, a total solution for their tray overwrapping machinery and material needs. The combination of equipment, materials, and services from SEE and Ossid allowed customers to achieve operational efficiency and sustainability goals and objectives for fresh protein producers.
In terms of forward non-GAAP <a href="https://www.investopedia.com/terms/p/price-earningsratio.asp">P/E</a>, SEE is trading at 11.69x, 22.2% lower than the industry average of 15.03x. The stock's forward EV/EBIT of 11.17x is 11.4% lower than the industry average of 12.61x.
SEE's net sales for the fiscal first quarter that ended March 31, 2024, amounted to $1.33 billion. Its adjusted EBITDA stood at $278.30 million, up 4.1% from the prior year's quarter. In addition, its adjusted net earnings rose 5.5% from the year-ago quarter to $112.80 million. Also, its adjusted EPS grew 5.4% year-over-year to $0.78.
Analysts expect SEE's revenue for the quarter ending December 31, 2024, to increase 1.1% year-over-year to $1.39 billion. Its fiscal 2025 EPS is expected to rise 11.6% year-over-year to $3.26. The company surpassed Street EPS estimates in each of the trailing four quarters, which is impressive. Over the past nine months, the stock has gained 3.8%, closing the last trading session at $34.12.
SEE's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this positive outlook. It has an overall rating of B, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
SEE has a B grade for Quality. It is ranked #6 out of 21 stocks in the A-rated <a href="https://stocknews.com/category/industrial-packaging/">Industrial - Packaging</a> industry. <a href="https://stocknews.com/stock/SEE/">Click here</a> to see SEE's Growth, Value, Momentum, Stability, and Sentiment ratings.
Stock #1: Sonoco Products Company (<a href="https://stocknews.com/stock/SON/">SON</a>)
SON designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates through the Consumer Packaging and Industrial Paper Packaging segments. 
On June 24, 2024, SON entered into an agreement with KPS Capital Partners, LP, to acquire Eviosys for $3.90 billion. SON has the option 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.
On June 17, 2024, SON announced that it would raise the price for all converted paperboard products by a minimum of 6%, effective with shipments in the United States and Canada, on or after July 10, 2024. This includes tubes, cores, cones, and protective packaging.
In terms of forward EV/EBITDA, SON is trading at 7.68x, 7.5% lower than the industry average of 8.30x. The stock's forward EV/Sales of 1.21x is 27.4% lower than the industry average of 1.67x.
For the first quarter that ended March 31, 2024, SON's net sales and adjusted operating profit stood at $1.64 billion and $176 million, respectively. For the same quarter, its adjusted net income attributable to SON and EPS amounted to $111.49 million and $1.12, respectively.
Street expects SON's EPS for the quarter ending September 30, 2024, to increase 1.8% year-over-year to $1.49. Its revenue for the quarter that ended June 30, 2024, is expected to rise marginally year-over-year to $1.71 billion. SON has declined 7.4% over the past nine months, closing the last trading session at $50.31.
SON's strong fundamentals are reflected in its POWR Ratings. Its overall rating is B, equating to Buy in our proprietary rating system.
It has a B grade for Value, Stability, and Quality. It is ranked #4 in the same industry. Get SON's Growth, Momentum, and Sentiment ratings <a href="https://stocknews.com/stock/SON/">here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
SEE shares were trading at $34.11 per share on Tuesday afternoon, down $0.01 (-0.03%). Year-to-date, SEE has declined -5.57%, versus a 15.97% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/see-son-2-undervalued-packaging-stocks-worth-buying-today/>2 Undervalued Packaging Stocks Worth Buying Today</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

2 Undervalued Packaging Stocks Worth Buying Today

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Sonoco Products: Selloff Is Overdone, Buy To Lock In 4.2% Yield

Sonoco Products: A Big Deal Creates Some Uncertainty

Sonoco Products declares $0.52 dividend

In a report released today, Gabrial Hajde from Wells Fargo assigned a Hold rating to Sonoco Products (SON – Research Report), with a price target o...

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Government Trades

Sonoco Products Co

top performing SON trades