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Posted by
Two Blokes Mon at 11:45 PM -
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Stock
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Sonoco's shares look cheap based on earnings multiples, but high leverage and recent M&A activity keep me cautious despite a strong dividend record. The Eviosys acquisition and TFP divestment have reshaped the business, but pro forma net debt remains elevated at about $5.4 billion. Despite a 4.6% dividend yield and 7-8x earnings multiple, I want to see a focus on deleveraging and cash flow over further M&A or dividend hikes.
