Packaging Co. of America (NYSE:PKG) Hits New 52-Week High – What’s Next?

Packaging Co. of America (NYSE:PKGGet Free Report)’s share price 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 traded. The stock had previously closed at $215.33.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PKG. Bank of America raised their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Truist Financial raised their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company lifted their target price on Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Citigroup lifted their target price 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $199.50.

Read Our Latest Stock Analysis on Packaging Co. of America

Packaging Co. of America Price Performance

The firm has a 50 day simple moving average of $206.14 and a two-hundred day simple moving average of $191.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The stock has a market cap of $19.42 billion, a P/E ratio of 27.13, a P/E/G ratio of 4.25 and a beta of 0.77.

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

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 62.74%.

Insider Buying and Selling

In related news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on 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 in the company, valued at $5,012,794.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares in the company, valued at approximately $4,077,128.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PKG. Coldstream Capital Management Inc. lifted its position in shares of Packaging Co. of America by 1.4% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 54 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after purchasing an additional 56 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 56 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of Packaging Co. of America by 2.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after purchasing an additional 57 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in Packaging Co. of America by 2.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

About Packaging Co. of America

(Get Free Report)

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.

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