Packaging Corporation of America (NYSE:PKG) SVP Thomas W.H. Walton sold 6,027 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total value of $700,036.05. Following the sale, the senior vice president now directly owns 32,690 shares of the company’s stock, valued at $3,796,943.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Packaging Corporation of America had a net margin of 8.18% and a return on equity of 29.38%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 earnings per share.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 15th were given a $0.63 dividend. The ex-dividend date was Thursday, September 14th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.18%. Packaging Corporation of America’s payout ratio is 46.67%.

WARNING: “Packaging Corporation of America (PKG) SVP Thomas W.H. Walton Sells 6,027 Shares” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/11/03/packaging-corporation-of-america-pkg-svp-thomas-w-h-walton-sells-6027-shares.html.

A number of institutional investors and hedge funds have recently modified their holdings of PKG. Janus Henderson Group PLC lifted its position in Packaging Corporation of America by 6,234.6% during the 2nd quarter. Janus Henderson Group PLC now owns 597,731 shares of the industrial products company’s stock worth $66,587,000 after acquiring an additional 588,295 shares during the period. American Century Companies Inc. acquired a new stake in Packaging Corporation of America during the 2nd quarter worth about $59,914,000. APG Asset Management N.V. lifted its position in Packaging Corporation of America by 76.4% during the 3rd quarter. APG Asset Management N.V. now owns 974,228 shares of the industrial products company’s stock worth $111,724,000 after acquiring an additional 422,100 shares during the period. FMR LLC lifted its position in Packaging Corporation of America by 41.9% during the 2nd quarter. FMR LLC now owns 1,381,644 shares of the industrial products company’s stock worth $153,902,000 after acquiring an additional 407,702 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Packaging Corporation of America by 34.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,298,086 shares of the industrial products company’s stock worth $144,594,000 after acquiring an additional 334,701 shares during the period. 88.42% of the stock is owned by institutional investors.

Several research analysts have commented on the company. BMO Capital Markets restated a “buy” rating and issued a $118.00 target price on shares of Packaging Corporation of America in a research note on Friday, August 4th. BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. KeyCorp reissued a “hold” rating on shares of Packaging Corporation of America in a report on Wednesday, October 18th. Zacks Investment Research cut Packaging Corporation of America from a “buy” rating to a “hold” rating in a report on Monday. Finally, Jefferies Group LLC reissued a “buy” rating and set a $128.00 price objective on shares of Packaging Corporation of America in a report on Friday, August 18th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $117.36.

About Packaging Corporation of America

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

Receive News & Ratings for Packaging Corporation of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corporation of America and related companies with MarketBeat.com's FREE daily email newsletter.