Packaging Co. of America (NYSE:PKG) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Packaging Co. of America (NYSE:PKG) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $212.69 and traded as high as $226.58. Packaging Co. of America shares last traded at $225.13, with a volume of 939,851 shares traded.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup boosted their target price on shares of 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. Truist Financial reiterated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Wells Fargo & Company boosted their price target on 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. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average price target of $231.33.

Packaging Co. of America Trading Up 0.0 %

The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a market cap of $20.23 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 3.34 and a beta of 0.77. The company has a fifty day simple moving average of $236.10 and a 200-day simple moving average of $213.07.

Packaging Co. of America (NYSE:PKG) last posted 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 firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s payout ratio is presently 58.28%.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 in the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Large investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC grew its position in shares of Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America during the 3rd quarter valued at approximately $32,000. Tortoise Investment Management LLC acquired a new stake in Packaging Co. of America in the 2nd quarter valued at approximately $33,000. Larson Financial Group LLC increased its position in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America during the second quarter worth approximately $50,000. Institutional investors own 89.78% of the company’s stock.

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.