Insider Selling: Packaging Co. of America (NYSE:PKG) CFO Sells 12,500 Shares of Stock

Packaging Co. of America (NYSE:PKG) CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Packaging Co. of America Stock Down 0.8 %

Packaging Co. of America stock traded down $1.85 during midday trading on Tuesday, reaching $239.64. The company’s stock had a trading volume of 131,789 shares, compared to its average volume of 599,202. The stock’s 50-day simple moving average is $218.57 and its 200-day simple moving average is $198.53. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. Packaging Co. of America has a 52-week low of $148.50 and a 52-week high of $245.00. The stock has a market capitalization of $21.52 billion, a P/E ratio of 28.15, a PEG ratio of 3.40 and a beta of 0.76.

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 (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the business posted $2.05 earnings per share. On average, sell-side analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is currently 58.28%.

Institutional Trading of Packaging Co. of America

Institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its position in Packaging Co. of America by 4.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after purchasing an additional 3,078 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in Packaging Co. of America by 30.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after purchasing an additional 21,143 shares during the period. Summit Financial Strategies Inc. raised its position in Packaging Co. of America by 5.5% in the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after purchasing an additional 12,129 shares during the period. DekaBank Deutsche Girozentrale raised its position in Packaging Co. of America by 6.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock valued at $41,839,000 after purchasing an additional 14,277 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Packaging Co. of America by 10.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company’s stock valued at $20,678,000 after purchasing an additional 10,516 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. 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 report on Thursday, October 24th. Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Citigroup boosted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Hold” and a consensus target price of $221.60.

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.