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

Packaging Co. of America (NYSE:PKG) SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction 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. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $235.81 on Friday. The company’s fifty day moving average is $221.23 and its two-hundred day moving average is $199.93. The company has a market cap 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 quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

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

Packaging Co. of America Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators grew its holdings in shares of Packaging Co. of America by 15.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 49 shares in the last quarter. Coldstream Capital Management Inc. increased its position in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 54 shares during the last quarter. Huntington National Bank raised its stake in shares of Packaging Co. of America by 0.5% during the 3rd quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock worth $2,170,000 after purchasing an additional 55 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after buying an additional 56 shares during the last quarter. Finally, Moors & Cabot Inc. grew its stake in shares of Packaging Co. of America by 2.1% in the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock valued at $491,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PKG shares. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company increased their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, Citigroup upped their target price on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

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.