Joseph Vaughn Sells 2,300 Shares of Packaging Co. of America (NYSE:PKG) Stock

Packaging Co. of America (NYSE:PKG) SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Packaging Co. of America Stock Down 0.0 %

PKG traded down $0.06 on Wednesday, hitting $243.99. 457,343 shares of the company were exchanged, compared to its average volume of 600,084. The stock’s fifty day moving average is $229.40 and its 200-day moving average is $205.82. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market cap of $21.91 billion, a PE ratio of 28.25, a PEG ratio of 3.44 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. Equities research analysts predict that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Packaging Co. of America

Several hedge funds have recently added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators boosted 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 worth $80,000 after buying an additional 49 shares during the period. 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 during the last quarter. Huntington National Bank increased its stake in shares of Packaging Co. of America by 0.5% during the third 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 during the period. Daiwa Securities Group Inc. lifted its holdings in 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 worth $1,773,000 after purchasing an additional 56 shares during the last quarter. Finally, Moors & Cabot Inc. grew its holdings in 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.

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.