Packaging Co. of America - PKG Stock Forecast, Price & News

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 opened at $137.97 on Tuesday. The firm's fifty day simple moving average is $142.69 and its two-hundred day simple moving average is $149.56. The company has a current ratio of 3.07, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. Packaging Co. of America has a 12-month low of $124.78 and a 12-month high of $168.50. The firm has a market capitalization of $12.93 billion, a P/E ratio of 12.76, a P/E/G ratio of 2.35 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Rating) last released its quarterly earnings results on Monday, July 25th. The industrial products company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.38. Packaging Co. of America had a net margin of 12.13% and a return on equity of 28.76%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company earned $2.17 earnings per share. The business's revenue for the quarter was up 19.0% on a year-over-year basis. Analysts forecast that Packaging Co. of America will post 11.51 EPS for the current fiscal year.

Packaging Co. of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Tuesday, June 14th. This is a positive change 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 3.62%. Packaging Co. of America's payout ratio is 46.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PKG shares. Citigroup boosted their price objective 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. Argus boosted their price objective on shares of Packaging Co. of America from $160.00 to $176.00 in a research note on Friday, April 29th. Wells Fargo & Company reduced their price objective on shares of Packaging Co. of America from $162.00 to $154.00 and set an "equal weight" rating for the company in a research note on Monday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Packaging Co. of America from $158.00 to $144.00 in a research note on Tuesday, July 19th. Finally, Truist Financial reduced their price objective on shares of Packaging Co. of America to $175.00 and set an "outperform" rating for the company in a research note on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of "Hold" and a consensus price target of $158.14.

Insider Activity

In related news, Director Donna A. Harman acquired 500 shares of the company's stock in a transaction dated Wednesday, May 25th. The shares were purchased at an average cost of $153.21 per share, with a total value of $76,605.00. Following the completion of the acquisition, the director now directly owns 2,725 shares of the company's stock, valued at $417,497.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Robert P. Mundy sold 13,800 shares of the business's stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $160.30, for a total value of $2,212,140.00. Following the completion of the transaction, the chief financial officer now owns 38,799 shares of the company's stock, valued at approximately $6,219,479.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Donna A. Harman bought 500 shares of the stock in a transaction dated Wednesday, May 25th. The stock was bought at an average price of $153.21 per share, for a total transaction of $76,605.00. Following the purchase, the director now directly owns 2,725 shares of the company's stock, valued at $417,497.25. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company's stock.