Packaging Co. of America (NYSE:PKG) Trading Up 4.1%

Shares of Packaging Co. of America (NYSE:PKG) traded up 4.1% during mid-day trading on Monday . The stock traded as high as $190.88 and last traded at $190.83. 60,283 shares traded hands during trading, a decline of 90% from the average session volume of 627,328 shares. The stock had previously closed at $183.33.

Analyst Ratings Changes

PKG has been the subject of several research analyst reports. Bank of America upped their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Truist Financial lifted their target price on Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.29.

Packaging Co. of America Price Performance

The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $180.81 and its two-hundred day moving average price is $176.09. The firm has a market capitalization of $16.83 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 5.13 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.09. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 EPS. Analysts anticipate that Packaging Co. of America will post 8.33 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, June 14th. Packaging Co. of America’s dividend payout ratio is 62.50%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland acquired 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now owns 916 shares in the company, valued at $166,766.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Packaging Co. of America

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its position in Packaging Co. of America by 75.0% during the third quarter. Acadian Asset Management LLC now owns 15,884 shares of the industrial products company’s stock worth $2,436,000 after purchasing an additional 6,809 shares during the period. LPL Financial LLC grew its stake in Packaging Co. of America by 11.8% in the 3rd quarter. LPL Financial LLC now owns 84,139 shares of the industrial products company’s stock valued at $12,920,000 after buying an additional 8,863 shares during the last quarter. Mariner LLC grew its stake in Packaging Co. of America by 11.4% in the 3rd quarter. Mariner LLC now owns 31,173 shares of the industrial products company’s stock valued at $4,787,000 after buying an additional 3,201 shares during the last quarter. Stifel Financial Corp raised its holdings in Packaging Co. of America by 4.2% in the 3rd quarter. Stifel Financial Corp now owns 51,042 shares of the industrial products company’s stock worth $7,838,000 after acquiring an additional 2,080 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Packaging Co. of America during the 3rd quarter worth $390,000. Institutional investors and hedge funds 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.