Packaging Co. of America (NYSE:PKG) Shares Gap Down to $179.29

Shares of Packaging Co. of America (NYSE:PKG) gapped down prior to trading on Tuesday . The stock had previously closed at $179.29, but opened at $169.70. Packaging Co. of America shares last traded at $172.32, with a volume of 196,219 shares traded.

Analyst Ratings Changes

Several research analysts recently weighed in on PKG shares. Truist Financial upped their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $187.00 to $191.00 in a report on Wednesday. Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and raised their target price for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Finally, StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $173.86.

Packaging Co. of America Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The firm has a market cap of $15.61 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 4.15 and a beta of 0.78. The firm has a 50-day simple moving average of $181.56 and a 200 day simple moving average of $168.02.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 earnings per share. As a group, equities analysts expect that Packaging Co. of America will post 8.24 EPS for the current year.

Packaging Co. of America Dividend Announcement

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

Insider Buying and Selling at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,041 shares of company stock valued at $6,799,177. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Packaging Co. of America

Several large investors have recently bought and sold shares of PKG. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Packaging Co. of America in the 3rd quarter worth about $25,000. Register Financial Advisors LLC bought a new stake in Packaging Co. of America in the 1st quarter worth about $25,000. Neo Ivy Capital Management bought a new stake in Packaging Co. of America in the 4th quarter worth about $28,000. First Horizon Advisors Inc. increased its holdings in Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after buying an additional 69 shares in the last quarter. Finally, Gables Capital Management Inc. bought a new stake in Packaging Co. of America in the 4th quarter worth about $31,000. 89.78% of the stock is currently owned by institutional investors.

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.