Packaging Co. of America (PKG) to Issue Quarterly Dividend of $1.25 on July 15th

Packaging Co. of America (NYSE:PKG) declared a quarterly dividend on Wednesday, May 8th, RTT News reports. Stockholders of record on Friday, June 14th will be paid a dividend of 1.25 per share by the industrial products company on Monday, July 15th. This represents a $5.00 annualized dividend and a dividend yield of 2.77%.

Packaging Co. of America has raised its dividend payment by an average of 14.1% annually over the last three years. Packaging Co. of America has a payout ratio of 50.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Packaging Co. of America to earn $9.13 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 54.8%.

Packaging Co. of America Price Performance

Shares of PKG opened at $180.38 on Friday. The firm has a market cap of $16.19 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 4.29 and a beta of 0.80. The stock has a 50 day moving average of $182.43 and a 200-day moving average of $169.78. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $191.27.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. The company 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 business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 EPS. As a group, analysts forecast that Packaging Co. of America will post 8.21 EPS for the current year.

Insider Buying and Selling at Packaging Co. of America

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

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of analyst reports. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Citigroup reduced their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $173.57.

About Packaging Co. of America

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.