Packaging Co. of America (NYSE:PKG) Hits New 52-Week High at $211.04

Packaging Co. of America (NYSE:PKG) reached a new 52-week high on Friday . The stock traded as high as $211.04 and last traded at $210.46, with a volume of 20733 shares. The stock had previously closed at $208.42.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America upped their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Citigroup upped their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” 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 Wednesday. Finally, Truist Financial upped their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America has a consensus rating of “Hold” and an average price target of $190.50.

Packaging Co. of America Stock Up 1.3 %

The firm has a market capitalization of $18.95 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 4.03 and a beta of 0.77. The stock has a fifty day moving average of $196.47 and a two-hundred day moving average of $187.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. Packaging Co. of America’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 earnings per share. Sell-side analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, October 15th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. Packaging Co. of America’s payout ratio is 62.50%.

Insiders Place Their Bets

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The disclosure for this sale can be found here. 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 made changes to their positions in the stock. CANADA LIFE ASSURANCE Co boosted its position in shares of Packaging Co. of America by 4.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after purchasing an additional 3,078 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Packaging Co. of America by 30.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock worth $17,168,000 after purchasing an additional 21,143 shares in the last quarter. Cim LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth about $2,003,000. Summit Financial Strategies Inc. boosted its position in shares of Packaging Co. of America by 5.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after purchasing an additional 12,129 shares in the last quarter. Finally, AXS Investments LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth about $766,000. Institutional investors 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.