Packaging Co. of America (NYSE:PKG) CFO Robert P. Mundy Sells 10,000 Shares of Stock

Packaging Co. of America (NYSE:PKGGet Free Report) CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Packaging Co. of America Trading Up 0.7 %

NYSE:PKG opened at $186.08 on Monday. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $188.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. The firm’s fifty day moving average is $169.59 and its 200-day moving average is $160.07. The firm has a market cap of $16.68 billion, a P/E ratio of 21.94, a P/E/G ratio of 4.55 and a beta of 0.77.

Packaging Co. of America (NYSE:PKGGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the firm posted $2.35 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts expect that Packaging Co. of America will post 8.18 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.69%. Packaging Co. of America’s payout ratio is currently 58.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Truist Financial upped their price target on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $147.00 to $173.00 and gave the stock an “equal weight” rating in a report on Thursday, November 30th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America has an average rating of “Hold” and an average price target of $165.33.

View Our Latest Stock Report on PKG

Hedge Funds Weigh In On Packaging Co. of America

A number of institutional investors and hedge funds have recently modified their holdings of PKG. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Packaging Co. of America during the 3rd quarter valued at $25,000. Neo Ivy Capital Management bought a new position in shares of Packaging Co. of America during the 4th quarter worth about $28,000. Clear Street Markets LLC grew its stake in shares of Packaging Co. of America by 94.6% in the 1st quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock valued at $25,000 after buying an additional 88 shares during the period. First Horizon Advisors Inc. increased its position in Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after buying an additional 69 shares in the last quarter. Finally, Quarry LP acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $30,000. 90.53% of the stock is currently owned by institutional investors.

About Packaging Co. of America

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Packaging Co. of America (NYSE:PKG)

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