Packaging Co. of America (PKG) To Go Ex-Dividend on March 14th

Packaging Co. of America (NYSE:PKG) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Friday, March 14th will be given a dividend of 1.25 per share by the industrial products company on Tuesday, April 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Friday, March 14th.

Packaging Co. of America has increased its dividend by an average of 7.7% per year over the last three years. Packaging Co. of America has a payout ratio of 42.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

PKG opened at $210.72 on Friday. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company’s 50 day simple moving average is $222.48 and its 200 day simple moving average is $222.28. The stock has a market capitalization of $18.92 billion, a PE ratio of 23.60, a P/E/G ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PKG has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on 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. Truist Financial reissued a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Citigroup increased their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

About Packaging Co. of America

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.