Packaging Corporation of America (NYSE:PKG) Sets New 1-Year High – What’s Next?

Shares of Packaging Corporation of America (NYSE:PKG) reached a new 52-week high on Monday. The stock traded as high as $260.00 and last traded at $258.0040, with a volume of 6,532 shares trading hands. The stock had previously closed at $256.82.

Wall Street Analysts Forecast Growth

PKG has been the topic of a number of research reports. Bank of America dropped their target price on shares of Packaging Corporation of America from $280.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, September 11th. Citigroup lifted their price target on shares of Packaging Corporation of America from $253.00 to $262.00 and gave the company a “neutral” rating in a report on Monday, October 26th. Weiss Ratings raised shares of Packaging Corporation of America from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 27th. UBS Group lowered their price objective on shares of Packaging Corporation of America from $292.00 to $289.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Packaging Corporation of America from $320.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Packaging Corporation of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.43.

Packaging Corporation of America Stock Down 1.2%

The firm has a market cap of $22.76 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. The company has a current ratio of 2.94, a quick ratio of 1.86 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average of $237.72 and a 200-day moving average of $229.84.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.11. Packaging Corporation of America had a return on equity of 19.63% and a net margin of 7.40%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the business earned $2.73 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts forecast that Packaging Corporation of America will post 10.56 EPS for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th were given a dividend of $1.50 per share. The ex-dividend date was Tuesday, September 15th. This represents a $6.00 annualized dividend and a dividend yield of 2.3%. Packaging Corporation of America’s dividend payout ratio is currently 73.89%.

Insider Transactions at Packaging Corporation of America

In related news, VP Donald R. Shirley sold 12,000 shares of Packaging Corporation of America stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $250.71, for a total value of $3,008,520.00. Following the sale, the vice president directly owned 19,110 shares in the company, valued at $4,791,068.10. This trade represents a 38.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Thomas A. Hassfurther sold 7,063 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $254.00, for a total transaction of $1,794,002.00. Following the transaction, the president directly owned 202,891 shares of the company’s stock, valued at $51,534,314. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Packaging Corporation of America

Several large investors have recently made changes to their positions in the company. John Boyer Inc. acquired a new position in shares of Packaging Corporation of America during the third quarter worth approximately $28,000. Fiduciary Financial Advisors bought a new position in Packaging Corporation of America in the 2nd quarter worth approximately $36,000. Oslo Pensjonsforsikring AS acquired a new stake in Packaging Corporation of America in the 1st quarter valued at approximately $41,000. Keating Financial Advisory Services Inc. acquired a new stake in Packaging Corporation of America in the 2nd quarter valued at approximately $41,000. Finally, Lynch Investment Planning LLC acquired a new stake in Packaging Corporation of America in the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE:PKG) is a manufacturer of corrugated packaging and containerboard products serving businesses primarily in the United States. Its products include shipping boxes, retail packaging, displays, protective packaging and specialty corrugated solutions used to transport and present a broad range of consumer and industrial goods.

The company also produces uncoated freesheet paper and related paper products for commercial printing, office use, publishing, converting and other applications.