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 Stock Performance
NYSE:PKG opened at $143.92 on Monday. The stock has a market cap of $13.49 billion, a P/E ratio of 13.31, a PEG ratio of 2.50 and a beta of 0.77. The stock has a 50 day simple moving average of $141.34 and a 200 day simple moving average of $149.69. 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 1-year low of $124.78 and a 1-year high of $168.50.
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 for the quarter, topping the consensus estimate of $2.85 by $0.38. The business had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.14 billion. Packaging Co. of America had a return on equity of 28.76% and a net margin of 12.13%. The firm's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm posted $2.17 EPS. Research analysts anticipate that Packaging Co. of America will post 11.51 earnings per share for the current year.
Packaging Co. of America Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Wednesday, June 15th were issued a dividend of $1.25 per share. This is a boost from Packaging Co. of America's previous quarterly dividend of $1.00. This represents a $5.00 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Tuesday, June 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 46.25%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on PKG. Wells Fargo & Company decreased their price target on 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. Citigroup lifted their target price on 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. Truist Financial reduced their target price on Packaging Co. of America to $175.00 and set an "outperform" rating for the company in a research note on Wednesday, July 27th. Argus lifted their target price on Packaging Co. of America from $160.00 to $176.00 in a research note on Friday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Packaging Co. of America from $158.00 to $144.00 in a research note on Tuesday, July 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $158.14.
Insider Buying and Selling
In other Packaging Co. of America news, CFO Robert P. Mundy sold 13,800 shares of Packaging Co. of America stock in a transaction on 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 directly 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 Securities & Exchange Commission, which is available through this hyperlink. In other Packaging Co. of America news, CFO Robert P. Mundy sold 13,800 shares of Packaging Co. of America stock in a transaction on 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 directly 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna A. Harman acquired 500 shares of the company's stock in a transaction on Wednesday, May 25th. The stock was bought 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 in the company, valued at $417,497.25. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by insiders.
