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

Packaging Co. of America (NYSE:PKG) SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG traded up $0.29 during midday trading on Friday, hitting $235.89. The stock had a trading volume of 37,979 shares, compared to its average volume of 598,263. The company has a market capitalization of $21.19 billion, a PE ratio of 27.46, a P/E/G ratio of 3.35 and a beta of 0.76. Packaging Co. of America has a 1 year low of $148.50 and a 1 year high of $245.00. The stock has a 50 day moving average price of $220.55 and a two-hundred day moving average price of $199.52. The company has a current ratio of 2.95, a quick ratio of 1.98 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 EPS 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 business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $2.05 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts predict 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. Investors of record on Tuesday, October 15th were paid a $1.25 dividend. 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 (DPR) is 58.28%.

Institutional Trading of Packaging Co. of America

A number of institutional investors have recently added to or reduced their stakes in PKG. Asset Dedication LLC increased 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 buying an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America in the 3rd quarter valued at about $32,000. Tortoise Investment Management LLC purchased a new position in Packaging Co. of America during the 2nd quarter valued at about $33,000. Larson Financial Group LLC lifted its holdings in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Packaging Co. of America in the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

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