Packaging Co. of America (NYSE:PKG) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Packaging Co. of America (NYSE:PKG)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $212.69 and traded as high as $226.58. Packaging Co. of America shares last traded at $225.13, with a volume of 939,851 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on PKG. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Truist Financial reissued a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup increased their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $231.33.

Packaging Co. of America Price Performance

The stock’s 50 day moving average is $236.01 and its two-hundred day moving average is $212.69. The stock has a market capitalization of $20.22 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. As a group, sell-side analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Insider Transactions at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,300 shares of company stock valued at $8,064,152. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Packaging Co. of America

Several hedge funds have recently made changes to their positions in PKG. International Assets Investment Management LLC acquired a new stake in shares of Packaging Co. of America in the 2nd quarter valued at about $69,000. Rothschild Investment LLC purchased a new position in shares of Packaging Co. of America during the second quarter worth approximately $80,000. Natixis Advisors LLC grew its position in shares of Packaging Co. of America by 0.6% during the second quarter. Natixis Advisors LLC now owns 85,011 shares of the industrial products company’s stock worth $15,520,000 after acquiring an additional 466 shares during the last quarter. Tortoise Investment Management LLC acquired a new position in shares of Packaging Co. of America in the 2nd quarter valued at $33,000. Finally, LMG Wealth Partners LLC raised its position in Packaging Co. of America by 3.6% in the 2nd quarter. LMG Wealth Partners LLC now owns 9,558 shares of the industrial products company’s stock valued at $1,745,000 after purchasing an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. 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.