Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. 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. This segment sells its corrugated products through a direct sales and marketing organization, independent brokers, and distribution partners. The Paper segment manufactures and sells commodity and specialty papers, as well as communication papers, including cut-size office papers, and printing and converting papers. This segment sells white papers through its sales and marketing organization. Packaging Corporation of America was founded in 1867 and is headquartered in Lake Forest, Illinois.
Packaging Co. of America Price Performance
NYSE:PKG traded down $2.52 on Friday, reaching $135.22. The company had a trading volume of 999,171 shares, compared to its average volume of 695,041. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $12.67 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 2.35 and a beta of 0.77. The firm's 50 day moving average price is $143.12 and its 200 day moving average price is $149.44. Packaging Co. of America has a 12 month low of $124.78 and a 12 month high of $168.50.
Packaging Co. of America (NYSE:PKG - Get Rating) last announced its quarterly earnings results on Monday, July 25th. The industrial products company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.38. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.14 billion. Packaging Co. of America had a net margin of 12.13% and a return on equity of 29.35%. Packaging Co. of America's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.17 EPS. As a group, equities analysts predict that Packaging Co. of America will post 11.51 earnings per share for the current year.
Packaging Co. of America Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th were issued a $1.25 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This is an increase from Packaging Co. of America's previous quarterly dividend of $1.00. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.70%. Packaging Co. of America's payout ratio is 46.25%.
Analyst Ratings Changes
PKG has been the subject of a number of research analyst reports. Truist Financial cut their target price on shares of Packaging Co. of America to $175.00 and set an "outperform" rating for the company in a research report on Wednesday, July 27th. Citigroup lifted their price target on shares of Packaging Co. of America from $144.00 to $147.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 27th. Wells Fargo & Company dropped their price target on shares of Packaging Co. of America from $162.00 to $154.00 and set an "equal weight" rating on the stock in a research note on Monday, July 18th. Argus lifted their price target on shares of Packaging Co. of America from $160.00 to $176.00 in a research note on Friday, April 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Packaging Co. of America from $158.00 to $144.00 in a research note on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America has an average rating of "Hold" and an average price target of $158.14.
Insider Transactions at Packaging Co. of America
In other news, CFO Robert P. Mundy sold 13,800 shares of the business's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $160.30, for a total value of $2,212,140.00. Following the sale, the chief financial officer now directly owns 38,799 shares in the company, valued at approximately $6,219,479.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Packaging Co. of America news, Director Donna A. Harman bought 500 shares of Packaging Co. of America stock in a transaction dated Wednesday, May 25th. The shares were purchased at an average cost of $153.21 per share, for a total transaction of $76,605.00. Following the acquisition, the director now directly owns 2,725 shares in the company, valued at approximately $417,497.25. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert P. Mundy sold 13,800 shares of the company's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $160.30, for a total transaction of $2,212,140.00. Following the transaction, the chief financial officer now owns 38,799 shares in the company, valued at $6,219,479.70. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.
