Packaging Co. of America (NYSE:PKG) Hits New 52-Week High at $189.32

Packaging Co. of America (NYSE:PKG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $189.32 and last traded at $189.01, with a volume of 52076 shares changing hands. The stock had previously closed at $187.31.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PKG shares. Truist Financial lifted their price target on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Finally, Wells Fargo & Company upped their price target on Packaging Co. of America from $147.00 to $173.00 and gave the stock an “equal weight” rating in a report on Thursday, November 30th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $165.33.

Packaging Co. of America Trading Up 1.1 %

The firm has a market capitalization of $16.93 billion, a P/E ratio of 22.28, a PEG ratio of 4.57 and a beta of 0.77. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $174.63 and a 200-day moving average price of $163.42.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. Packaging Co. of America’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.35 earnings per share. Analysts anticipate that Packaging Co. of America will post 8.18 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.96%.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the transaction, the vice president now directly owns 187,647 shares in the company, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock worth $6,799,177 over the last three months. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Institutional investors and hedge funds have recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Packaging Co. of America during the third quarter valued at $25,000. Neo Ivy Capital Management acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at $28,000. Clear Street Markets LLC lifted its stake in shares of Packaging Co. of America by 94.6% during the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 88 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the period. Finally, Quarry LP acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at $30,000. 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.