Packaging Co. of America (NYSE:PKG) SVP Sells $1,921,600.00 in Stock

Packaging Co. of America (NYSE:PKG) SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at $3,777,145. This trade represents a 33.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Packaging Co. of America Trading Up 0.1 %

Shares of PKG stock opened at $235.81 on Friday. The stock has a market cap of $21.18 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 3.35 and a beta of 0.76. The stock has a 50-day moving average of $221.23 and a 200-day moving average of $200.12. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $245.00.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. On average, equities research analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.12%. Packaging Co. of America’s payout ratio is 58.28%.

Institutional Investors Weigh In On Packaging Co. of America

Institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in Packaging Co. of America during the first quarter worth approximately $43,000. Avantax Advisory Services Inc. grew its stake in Packaging Co. of America by 14.0% during the first quarter. Avantax Advisory Services Inc. now owns 10,040 shares of the industrial products company’s stock worth $1,905,000 after purchasing an additional 1,231 shares during the period. Bleakley Financial Group LLC acquired a new stake in Packaging Co. of America during the first quarter worth approximately $215,000. Entropy Technologies LP acquired a new stake in Packaging Co. of America during the first quarter worth approximately $844,000. Finally, State Board of Administration of Florida Retirement System grew its stake in Packaging Co. of America by 10.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company’s stock worth $20,678,000 after purchasing an additional 10,516 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the subject of a number of recent research reports. Citigroup upped their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial reiterated a “buy” rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company increased their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $221.60.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.