Packaging Co. of America (PKG) to Issue Quarterly Dividend of $1.25 on September 16th

Packaging Co. of America (NYSE:PKG) announced a quarterly dividend on Tuesday, August 27th, RTT News reports. Investors of record on Tuesday, October 15th will be paid a dividend of 1.25 per share by the industrial products company on Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.44%.

Packaging Co. of America has raised its dividend payment by an average of 14.1% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Packaging Co. of America has a payout ratio of 46.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Packaging Co. of America to earn $10.35 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 48.3%.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $205.08 on Thursday. The stock has a market capitalization of $18.42 billion, a P/E ratio of 25.64, a PEG ratio of 5.08 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $191.48 and its 200 day moving average is $184.56. Packaging Co. of America has a 12 month low of $143.82 and a 12 month high of $206.84.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the company posted $2.31 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Packaging Co. of America will post 8.71 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on PKG. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Citigroup increased their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Bank of America increased their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Truist Financial increased their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and a consensus price target of $190.50.

Insider Transactions at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. Insiders own 1.60% 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.