Packaging Co. of America (PKG) To Go Ex-Dividend on December 20th

Packaging Co. of America (NYSE:PKG) declared a quarterly dividend on Tuesday, December 10th,RTT News reports. Investors of record on Friday, December 20th will be paid a dividend of 1.25 per share by the industrial products company on Wednesday, January 15th. This represents a $5.00 annualized dividend and a yield of 2.15%. The ex-dividend date is Friday, December 20th.

Packaging Co. of America has raised its dividend payment by an average of 14.1% annually over the last three years and has raised its dividend every year for the last 14 years. Packaging Co. of America has a dividend payout ratio of 44.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Packaging Co. of America to earn $11.14 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 44.9%.

Packaging Co. of America Stock Down 1.9 %

Shares of NYSE PKG opened at $232.61 on Wednesday. The stock has a market capitalization of $20.89 billion, a PE ratio of 27.11, a P/E/G ratio of 3.34 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $234.44 and a 200-day moving average of $209.89. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the sale, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock worth $8,064,152 over the last quarter. 1.60% of the stock is owned by company insiders.

Packaging Co. of America Company Profile

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.