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

Packaging Co. of America (NYSE:PKG) SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $235.81 on Friday. Packaging Co. of America has a one year low of $148.50 and a one year high of $245.00. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $221.23 and a 200 day simple moving average of $199.93. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 3.35 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the business earned $2.05 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Sell-side analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

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

Institutional Investors Weigh In On Packaging Co. of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC grew its stake in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America during the 3rd quarter worth $32,000. Tortoise Investment Management LLC bought a new position in Packaging Co. of America in the 2nd quarter valued at $33,000. Larson Financial Group LLC increased its stake in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Packaging Co. of America during the first quarter worth $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PKG. Truist Financial reissued a “buy” rating and set a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup upped their price objective on shares of 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, Wells Fargo & Company raised their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently 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.