Packaging Co. of America (NYSE:PKG - Get Free Report) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Friday, March 14th will be paid a dividend of 1.25 per share by the industrial products company on Tuesday, April 15th. This represents a $5.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Friday, March 14th.
Packaging Co. of America has raised its dividend payment by an average of 7.7% per year over the last three years. Packaging Co. of America has a dividend payout ratio of 42.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Packaging Co. of America to earn $11.41 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 43.8%.
Packaging Co. of America Stock Performance
Shares of NYSE:PKG traded up $2.33 during midday trading on Friday, hitting $213.08. The stock had a trading volume of 747,330 shares, compared to its average volume of 913,916. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average price of $222.19 and a two-hundred day moving average price of $222.81. The company has a market capitalization of $19.14 billion, a PE ratio of 23.86, a P/E/G ratio of 2.41 and a beta of 0.77.
Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, equities analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Citigroup raised their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Truist Financial reissued a "buy" rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company dropped their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Packaging Co. of America has an average rating of "Moderate Buy" and an average price target of $233.00.
Get Our Latest Research Report on Packaging Co. of America
Insider Activity at Packaging Co. of America
In related news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by insiders.
About Packaging Co. of America
(
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Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.
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