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.
Wall Street Analysts Forecast Growth
PKG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Packaging Co. of America from $158.00 to $144.00 in a report on Tuesday, July 19th. Wells Fargo & Company cut their price target on Packaging Co. of America from $162.00 to $154.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. Citigroup lifted their price target on Packaging Co. of America from $144.00 to $147.00 and gave the company a "neutral" rating in a report on Wednesday, July 27th. Argus lifted their price target on Packaging Co. of America from $160.00 to $176.00 in a report on Friday, April 29th. Finally, Truist Financial cut their price target on Packaging Co. of America to $175.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of "Hold" and an average target price of $158.14.
Packaging Co. of America Price Performance
NYSE:PKG opened at $143.32 on Tuesday. Packaging Co. of America has a 12 month low of $124.78 and a 12 month high of $168.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.07 and a quick ratio of 2.09. The firm has a market capitalization of $13.43 billion, a PE ratio of 13.26, a P/E/G ratio of 2.50 and a beta of 0.77. The company's 50 day simple moving average is $140.99 and its 200 day simple moving average is $149.67.
Packaging Co. of America (NYSE:PKG - Get Rating) last posted its quarterly earnings data on Monday, July 25th. The industrial products company reported $3.23 EPS for the quarter, beating analysts' consensus estimates 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 quarter last year, the business earned $2.17 earnings per share. The business's revenue for the quarter was up 19.0% on a year-over-year basis. As a group, equities research analysts forecast that Packaging Co. of America will post 11.51 EPS for the current fiscal year.
Packaging Co. of America Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th were given a $1.25 dividend. This is a positive change from Packaging Co. of America's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $5.00 annualized dividend and a yield of 3.49%. Packaging Co. of America's payout ratio is 46.25%.
Insiders Place Their Bets
In other Packaging Co. of America news, CFO Robert P. Mundy sold 13,800 shares of Packaging Co. of America stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 38,799 shares in the company, valued at $6,219,479.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Packaging Co. of America news, CFO Robert P. Mundy sold 13,800 shares of Packaging Co. of America stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 38,799 shares in the company, valued at $6,219,479.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Donna A. Harman purchased 500 shares of the firm's stock in a transaction on Wednesday, May 25th. The stock was acquired at an average price of $153.21 per share, for a total transaction of $76,605.00. Following the transaction, the director now owns 2,725 shares of the company's stock, valued at approximately $417,497.25. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by company insiders.
