Packaging Co. of America (NYSE:PKG) Issues Earnings Results

Packaging Co. of America (NYSE:PKG) released its quarterly earnings results on Tuesday. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09, Briefing.com reports. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 EPS.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $173.92 on Thursday. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $181.56 and its 200 day simple moving average is $168.02. The company has a market cap of $15.61 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 4.15 and a beta of 0.78.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $1.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.87%. Packaging Co. of America’s payout ratio is 62.50%.

Insider Activity at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,041 shares of company stock worth $6,799,177. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of a number of analyst reports. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $187.00 to $191.00 in a research note on Wednesday. Truist Financial lifted their price target on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Citigroup lifted their price target on Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Finally, BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $173.86.

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.