Packaging Co. of America (NYSE:PKG) Hits New 12-Month High – Time to Buy?

Packaging Co. of America (NYSE:PKG) reached a new 52-week high during trading on Wednesday . The company traded as high as $217.87 and last traded at $217.73, with a volume of 17867 shares trading hands. The stock had previously closed at $215.33.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of recent analyst reports. Citigroup upped 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 boosted their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Bank of America increased their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Packaging Co. of America currently has an average rating of “Hold” and a consensus price target of $199.50.

Packaging Co. of America Price Performance

The company’s 50-day simple moving average is $205.44 and its 200 day simple moving average is $191.29. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $19.47 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 4.18 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts forecast that Packaging Co. of America will post 8.73 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is presently 62.50%.

Insider Buying and Selling

In related news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the transaction, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Packaging Co. of America

Several large investors have recently modified their holdings of the stock. Register Financial Advisors LLC acquired a new position in Packaging Co. of America in the 1st quarter valued at $25,000. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America during the 3rd quarter valued at $32,000. Asset Dedication LLC grew its position in Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Packaging Co. of America in the 4th quarter worth about $28,000. Finally, Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America during the second quarter valued at about $33,000. 89.78% of the stock is owned by institutional investors.

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.