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 firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock traded down $2.76 on Thursday, hitting $235.58. The company’s stock had a trading volume of 527,294 shares, compared to its average volume of 600,799. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 1 year low of $148.50 and a 1 year high of $245.00. The firm has a fifty day moving average price of $219.92 and a 200-day moving average price of $199.27. The company has a market capitalization of $21.16 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 3.37 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last announced 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. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the business earned $2.05 EPS. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PKG shares. Citigroup raised their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial restated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, Wells Fargo & Company raised their price objective 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $221.60.

Institutional Investors Weigh In On Packaging Co. of America

Large investors have recently made changes to their positions in the stock. Asset Dedication LLC grew its position in shares of Packaging Co. of America by 200.0% in 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 in the last quarter. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America in the third quarter valued at approximately $32,000. Tortoise Investment Management LLC acquired a new stake in Packaging Co. of America during the second quarter worth $33,000. Larson Financial Group LLC raised its position in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Packaging Co. of America in the first quarter valued at $43,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

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.