Insider Selling: Packaging Co. of America (NYSE:PKG) Director Sells 10,500 Shares of Stock

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

Packaging Co. of America Trading Up 0.5 %

Shares of NYSE:PKG opened at $246.43 on Friday. Packaging Co. of America has a 52-week low of $153.58 and a 52-week high of $248.62. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a market cap of $22.13 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.44 and a beta of 0.76. The business has a 50-day moving average price of $224.82 and a 200-day moving average price of $202.27.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 earnings per share. Equities analysts predict that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of analyst reports. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup raised their price objective on 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, Truist Financial reaffirmed a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America currently has an average rating of “Hold” and a consensus target price of $221.60.

Hedge Funds Weigh In On Packaging Co. of America

Several large investors have recently made changes to their positions in PKG. State Street Corp increased its holdings in Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after buying an additional 123,050 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Packaging Co. of America by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock valued at $632,654,000 after acquiring an additional 98,223 shares during the period. Victory Capital Management Inc. increased its stake in shares of Packaging Co. of America by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after purchasing an additional 41,903 shares in the last quarter. Geode Capital Management LLC boosted its position in Packaging Co. of America by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after purchasing an additional 12,936 shares in the last quarter. Finally, Boston Partners grew its holdings in Packaging Co. of America by 49.3% in the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after purchasing an additional 477,487 shares during the period. 89.78% of the stock is currently 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.