Packaging Co. of America (NYSE:PKG) Director Sells $2,571,555.00 in Stock

Packaging Co. of America (NYSE:PKG) Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the sale, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG opened at $246.39 on Monday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1-year low of $153.58 and a 1-year high of $248.62. The stock has a market capitalization of $22.13 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.44 and a beta of 0.76. The business has a 50-day moving average price of $224.82 and a two-hundred day moving average price of $202.61.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data 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 net margin of 9.46% and a return on equity of 19.10%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Packaging Co. of America’s revenue was up 14.9% compared to the same quarter last year. Equities analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a dividend of $1.25 per share. 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 2.03%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PKG shares. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial reaffirmed a “buy” rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Finally, Citigroup increased their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $221.60.

Institutional Investors Weigh In On Packaging Co. of America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PKG. CANADA LIFE ASSURANCE Co increased its stake in shares of Packaging Co. of America by 4.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after acquiring an additional 3,078 shares during the last quarter. Summit Financial Strategies Inc. boosted its position in shares of Packaging Co. of America by 5.5% during the second 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 grew 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 valued at $41,839,000 after buying an additional 14,277 shares during the period. M&G Plc bought a new stake in shares of Packaging Co. of America in the 2nd quarter valued at $840,000. Finally, Dai ichi Life Insurance Company Ltd raised its stake in Packaging Co. of America by 10.5% during 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 buying an additional 3,355 shares during the period. 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.