Stock Traders Buy High Volume of Packaging Corp Of America Call Options (PKG)

Packaging Corp Of America (NYSE:PKG) saw unusually large options trading on Thursday. Stock investors purchased 4,479 call options on the stock. This is an increase of approximately 1,636% compared to the typical daily volume of 258 call options.

Shares of Packaging Corp Of America (PKG) opened at $120.09 on Tuesday. Packaging Corp Of America has a 12-month low of $84.01 and a 12-month high of $121.11. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. The stock has a market cap of $11,330.00, a P/E ratio of 22.24, a PEG ratio of 2.41 and a beta of 1.81.

Packaging Corp Of America (NYSE:PKG) last posted 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). Packaging Corp Of America had a net margin of 8.18% and a return on equity of 29.38%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. Packaging Corp Of America’s revenue was up 10.5% on a year-over-year basis. sell-side analysts anticipate that Packaging Corp Of America will post 5.99 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, December 26th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.10%. Packaging Corp Of America’s payout ratio is 46.67%.

In other Packaging Corp Of America news, SVP Thomas W.H. Walton sold 6,027 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total transaction of $700,036.05. Following the transaction, the senior vice president now owns 32,690 shares of the company’s stock, valued at $3,796,943.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Charles J. Carter sold 6,150 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $117.04, for a total value of $719,796.00. Following the transaction, the senior vice president now directly owns 24,265 shares in the company, valued at approximately $2,839,975.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,177 shares of company stock worth $1,427,532. Corporate insiders own 1.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in Packaging Corp Of America in the 3rd quarter valued at $14,544,000. First Eagle Investment Management LLC raised its holdings in Packaging Corp Of America by 17.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock valued at $240,839,000 after acquiring an additional 319,452 shares during the last quarter. State Street Corp raised its holdings in Packaging Corp Of America by 1.0% in the 2nd quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock valued at $371,683,000 after acquiring an additional 31,624 shares during the last quarter. Morse Asset Management Inc raised its holdings in Packaging Corp Of America by 20.3% in the 3rd quarter. Morse Asset Management Inc now owns 5,922 shares of the industrial products company’s stock valued at $679,000 after acquiring an additional 1,000 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in Packaging Corp Of America by 23.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 565,067 shares of the industrial products company’s stock valued at $62,943,000 after acquiring an additional 107,348 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

A number of equities analysts recently issued reports on PKG shares. Deutsche Bank reissued a “hold” rating and set a $120.00 price target (up previously from $94.00) on shares of Packaging Corp Of America in a report on Monday, October 9th. Stephens started coverage on Packaging Corp Of America in a report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price target on the stock. Barclays raised their price target on Packaging Corp Of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, October 30th. Zacks Investment Research raised Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Thursday, October 12th. Finally, KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Packaging Corp Of America has an average rating of “Hold” and a consensus target price of $117.36.

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Packaging Corp Of America Company Profile

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.

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