Packaging Co. of America (NYSE:PKG) Sets New 1-Year High – What’s Next?

Packaging Co. of America (NYSE:PKG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $248.62 and last traded at $243.31, with a volume of 360117 shares traded. The stock had previously closed at $238.31.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup increased 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. Finally, Truist Financial reiterated a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $221.60.

Packaging Co. of America Trading Up 0.4 %

The company has a market cap of $22.13 billion, a P/E ratio of 28.58, a PEG ratio of 3.35 and a beta of 0.76. The business has a fifty day moving average price of $224.10 and a 200-day moving average price of $201.79. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

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 (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. The business 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 firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 earnings per share. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.03%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Insider Transactions at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the sale, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,000 shares of company stock worth $7,500,905. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Packaging Co. of America

A number of institutional investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its position in shares of Packaging Co. of America by 4.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after purchasing an additional 3,078 shares in the last quarter. Summit Financial Strategies Inc. boosted its position in shares of Packaging Co. of America by 5.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after purchasing an additional 12,129 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Packaging Co. of America by 6.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock worth $41,839,000 after acquiring an additional 14,277 shares during the last quarter. M&G Plc acquired a new stake in shares of Packaging Co. of America in the 2nd quarter worth about $840,000. Finally, Dai ichi Life Insurance Company Ltd raised its holdings in shares of Packaging Co. of America by 10.5% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 35,193 shares of the industrial products company’s stock worth $6,425,000 after acquiring an additional 3,355 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

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.