Packaging Co. of America (NYSE:PKG) SVP Donald R. Shirley Sells 8,000 Shares

Packaging Co. of America (NYSE:PKG) SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Packaging Co. of America Price Performance

Shares of NYSE:PKG traded down $2.76 during midday trading on Thursday, hitting $235.58. 527,294 shares of the stock were exchanged, compared to its average volume of 600,799. The stock has a market cap of $21.16 billion, a P/E ratio of 27.50, a PEG ratio of 3.37 and a beta of 0.76. 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 twelve month low of $148.50 and a twelve month high of $245.00. The company has a 50 day moving average price of $219.92 and a 200-day moving average price of $199.27.

Packaging Co. of America (NYSE:PKG) last announced its 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. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, research analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on PKG. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup raised their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PKG. Captrust Financial Advisors grew its holdings in shares of Packaging Co. of America by 1.2% during the 3rd quarter. Captrust Financial Advisors now owns 19,631 shares of the industrial products company’s stock worth $4,229,000 after purchasing an additional 227 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of Packaging Co. of America by 6.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 88,122 shares of the industrial products company’s stock worth $18,976,000 after purchasing an additional 5,517 shares during the period. Vinva Investment Management Ltd boosted its holdings in Packaging Co. of America by 62.4% in the 3rd quarter. Vinva Investment Management Ltd now owns 4,009 shares of the industrial products company’s stock worth $865,000 after acquiring an additional 1,541 shares during the period. Public Sector Pension Investment Board boosted its holdings in Packaging Co. of America by 15.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,830 shares of the industrial products company’s stock worth $825,000 after acquiring an additional 500 shares during the period. Finally, Fiduciary Trust Co boosted its holdings in Packaging Co. of America by 2.0% in the 3rd quarter. Fiduciary Trust Co now owns 3,367 shares of the industrial products company’s stock worth $725,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Company Profile

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.