Packaging Co. of America (NYSE:PKG) CFO Sells $3,007,750.00 in Stock

Packaging Co. of America (NYSE:PKG) CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Packaging Co. of America Stock Performance

Shares of PKG opened at $235.58 on Friday. Packaging Co. of America has a 1 year low of $148.50 and a 1 year high of $245.00. The company has a market capitalization of $21.16 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 3.37 and a beta of 0.76. The company’s 50 day simple moving average is $220.55 and its 200 day simple moving average is $199.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 EPS. On average, sell-side analysts predict that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.12%. Packaging Co. of America’s payout ratio is 58.28%.

Hedge Funds Weigh In On Packaging Co. of America

A number of hedge funds have recently made changes to their positions in PKG. Envestnet Portfolio Solutions Inc. grew its position in shares of Packaging Co. of America by 11.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,672 shares of the industrial products company’s stock worth $1,266,000 after buying an additional 668 shares in the last quarter. SG Americas Securities LLC boosted its position in Packaging Co. of America by 306.4% during the 1st quarter. SG Americas Securities LLC now owns 16,186 shares of the industrial products company’s stock worth $3,072,000 after acquiring an additional 12,203 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Packaging Co. of America by 295.9% during the first quarter. Oppenheimer & Co. Inc. now owns 5,095 shares of the industrial products company’s stock valued at $967,000 after purchasing an additional 3,808 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in Packaging Co. of America by 8.3% in the first quarter. Atomi Financial Group Inc. now owns 1,671 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 128 shares during the period. Finally, Sei Investments Co. boosted its stake in Packaging Co. of America by 20.0% during the first quarter. Sei Investments Co. now owns 190,085 shares of the industrial products company’s stock valued at $36,076,000 after buying an additional 31,706 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Truist Financial reissued a “buy” rating and issued a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Citigroup increased 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 report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

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.