Packaging Co. of America (NYSE:PKG) Director Paul T. Stecko Sells 10,500 Shares

Packaging Co. of America (NYSE:PKG) Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Packaging Co. of America Stock Up 0.4 %

Shares of PKG stock opened at $246.39 on Friday. The stock’s fifty day moving average price is $224.82 and its 200 day moving average price is $202.44. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1-year low of $153.58 and a 1-year high of $248.62. The company has a market cap of $22.13 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 3.44 and a beta of 0.76.

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 (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 the consensus estimate 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 revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. On average, research 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 disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.03%. Packaging Co. of America’s payout ratio is currently 58.28%.

Analysts Set New Price Targets

PKG has been the subject of a number of recent research reports. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial restated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note 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 company an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup increased their price target on shares of 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $221.60.

Hedge Funds Weigh In On Packaging Co. of America

Hedge funds have recently made changes to their positions in the company. Aldebaran Financial Inc. purchased a new stake in Packaging Co. of America during the 3rd quarter valued at about $215,000. Passumpsic Savings Bank acquired a new stake in shares of Packaging Co. of America during the third quarter worth about $212,000. Toronto Dominion Bank boosted its position in Packaging Co. of America by 1.4% in the third quarter. Toronto Dominion Bank now owns 44,122 shares of the industrial products company’s stock valued at $9,504,000 after buying an additional 627 shares during the last quarter. Geode Capital Management LLC increased its holdings in Packaging Co. of America by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after buying an additional 12,936 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in Packaging Co. of America by 5.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 41,120 shares of the industrial products company’s stock worth $8,857,000 after buying an additional 2,052 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

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.