Packaging Co. of America (NYSE:PKG) SVP Donald R. Shirley Sells 8,000 Shares

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. This trade represents a 33.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $235.81 on Friday. The business’s fifty day simple moving average is $221.23 and its 200 day simple moving average is $200.12. The firm has a market capitalization of $21.18 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 3.35 and a beta of 0.76. Packaging Co. of America has a 12 month low of $148.50 and a 12 month high of $245.00. 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 (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 earnings per share. As a group, analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.12%. Packaging Co. of America’s payout ratio is presently 58.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup raised their price objective on 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. Wells Fargo & Company raised their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Truist Financial reissued a “buy” rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Institutional Trading of Packaging Co. of America

Several hedge funds have recently made changes to their positions in the company. Deseret Mutual Benefit Administrators grew its position in shares of Packaging Co. of America by 15.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 49 shares in the last quarter. Coldstream Capital Management Inc. grew its position in shares of Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after purchasing an additional 54 shares in the last quarter. Huntington National Bank grew its position in shares of Packaging Co. of America by 0.5% in the third quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock valued at $2,170,000 after purchasing an additional 55 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Packaging Co. of America by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after purchasing an additional 56 shares in the last quarter. Finally, Moors & Cabot Inc. grew its position in shares of Packaging Co. of America by 2.1% in the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock valued at $491,000 after purchasing an additional 56 shares in the last quarter. 89.78% of the stock is currently owned by 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.