Packaging Co. of America (NYSE:PKG) Declares Quarterly Dividend of $1.25

Packaging Co. of America (NYSE:PKG) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 1.25 per share by the industrial products company on Tuesday, April 15th. This represents a $5.00 annualized dividend and a dividend yield of 2.35%.

Packaging Co. of America has raised its dividend by an average of 7.7% per year over the last three years. Packaging Co. of America has a payout ratio of 42.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Packaging Co. of America to earn $11.41 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 43.8%.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $212.86 on Thursday. The firm has a market capitalization of $19.12 billion, a P/E ratio of 23.84, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The company’s fifty day moving average is $222.82 and its two-hundred day moving average is $222.36. 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 (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Citigroup upped their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Truist Financial restated a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Company Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.