Packaging Co. of America (NYSE:PKG) EVP Sells $1,197,561.00 in Stock

Packaging Co. of America (NYSE:PKGGet Rating) EVP Charles J. Carter sold 7,347 shares of the firm’s stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $163.00, for a total transaction of $1,197,561.00. Following the transaction, the executive vice president now directly owns 23,996 shares of the company’s stock, valued at $3,911,348. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Packaging Co. of America stock opened at $161.17 on Friday. The business has a fifty day simple moving average of $154.56 and a two-hundred day simple moving average of $143.03. Packaging Co. of America has a 1 year low of $124.78 and a 1 year high of $168.50. The company has a market capitalization of $15.10 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 3.04 and a beta of 0.83. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.09 and a quick ratio of 2.07.

Packaging Co. of America (NYSE:PKGGet Rating) last announced its quarterly earnings results on Monday, April 25th. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.20. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.05 billion. Packaging Co. of America had a return on equity of 25.55% and a net margin of 10.88%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. As a group, equities analysts anticipate that Packaging Co. of America will post 10.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Tuesday, March 15th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Monday, March 14th. Packaging Co. of America’s payout ratio is 45.30%.

A number of hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp increased its position in Packaging Co. of America by 5.4% during the 3rd quarter. Van ECK Associates Corp now owns 1,458 shares of the industrial products company’s stock worth $200,000 after buying an additional 75 shares during the period. Pearl River Capital LLC increased its position in Packaging Co. of America by 0.6% during the 3rd quarter. Pearl River Capital LLC now owns 12,508 shares of the industrial products company’s stock worth $1,719,000 after buying an additional 75 shares during the period. Greenleaf Trust increased its position in Packaging Co. of America by 4.7% during the 1st quarter. Greenleaf Trust now owns 1,675 shares of the industrial products company’s stock worth $261,000 after buying an additional 75 shares during the period. Penserra Capital Management LLC increased its position in Packaging Co. of America by 23.0% during the 4th quarter. Penserra Capital Management LLC now owns 417 shares of the industrial products company’s stock worth $56,000 after buying an additional 78 shares during the period. Finally, IndexIQ Advisors LLC increased its position in Packaging Co. of America by 5.2% during the 3rd quarter. IndexIQ Advisors LLC now owns 1,626 shares of the industrial products company’s stock worth $223,000 after buying an additional 81 shares during the period. Hedge funds and other institutional investors own 88.94% of the company’s stock.

Several equities research analysts have recently commented on PKG shares. StockNews.com started coverage on Packaging Co. of America in a report on Thursday, March 31st. They issued a “buy” rating for the company. Zacks Investment Research raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating and set a $172.00 price objective for the company in a report on Wednesday, February 2nd. Argus increased their price objective on Packaging Co. of America from $160.00 to $176.00 in a report on Friday. UBS Group raised Packaging Co. of America from a “sell” rating to a “neutral” rating and increased their price objective for the company from $127.00 to $154.00 in a report on Thursday, February 17th. Finally, Seaport Res Ptn raised Packaging Co. of America from a “neutral” rating to a “buy” rating in a report on Friday, January 28th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $165.86.

Packaging Co. of America Company Profile (Get Rating)

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.

Featured Stories

Receive News & Ratings for Packaging Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.