Packaging Co. of America (NYSE:PKG) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Packaging Co. of America (NYSE:PKG - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $212.69 and traded as high as $226.58. Packaging Co. of America shares last traded at $225.13, with a volume of 939,851 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PKG. Citigroup lifted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Truist Financial reissued a "buy" rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday, December 24th. Finally, Wells Fargo & Company increased their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $231.33.

Packaging Co. of America Trading Up 0.1 %

The business's fifty day moving average price is $236.18 and its 200 day moving average price is $212.99. 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 market capitalization of $20.22 billion, a PE ratio of 26.24, a P/E/G ratio of 3.34 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the previous year, the company earned $2.05 EPS. Packaging Co. of America's revenue for the quarter was up 14.9% on a year-over-year basis. As a group, analysts expect that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America's payout ratio is 58.28%.

Insider Activity

In other news, SVP Donald R. Shirley sold 8,000 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the sale, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock valued at $8,064,152 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Packaging Co. of America

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC grew its stake in Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company's stock worth $4,366,000 after buying an additional 2,946 shares during the period. Principal Financial Group Inc. increased its holdings in Packaging Co. of America by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company's stock valued at $99,194,000 after purchasing an additional 35,614 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Packaging Co. of America by 227.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company's stock valued at $6,945,000 after purchasing an additional 22,397 shares during the period. Dai ichi Life Insurance Company Ltd lifted its stake in shares of Packaging Co. of America by 10.5% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 35,193 shares of the industrial products company's stock worth $6,425,000 after purchasing an additional 3,355 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of Packaging Co. of America by 30.7% in the third quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company's stock worth $24,772,000 after buying an additional 27,018 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

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.