Packaging Co. of America (NYSE:PKG) Price Target Raised to $235.00

Packaging Co. of America (NYSE:PKG) had its target price upped by Citigroup from $232.00 to $235.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other analysts have also recently commented on PKG. Truist Financial lifted their price objective on Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company boosted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $238.67.

Packaging Co. of America Trading Up 1.0 %

PKG opened at $228.17 on Monday. Packaging Co. of America has a 52 week low of $159.57 and a 52 week high of $250.82. 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 cap of $20.49 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. The business’s 50 day moving average is $236.03 and its two-hundred day moving average is $214.51.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. On average, research analysts predict that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s payout ratio is 58.28%.

Insider Buying and Selling

In other news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Packaging Co. of America

A number of institutional investors have recently made changes to their positions in PKG. Stifel Financial Corp grew its holdings in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after buying an additional 536,389 shares in the last quarter. Millennium Management LLC raised its position in shares of Packaging Co. of America by 34.3% in the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after purchasing an additional 262,315 shares during the period. AQR Capital Management LLC raised its holdings in Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after acquiring an additional 249,483 shares during the period. International Assets Investment Management LLC lifted its holdings in Packaging Co. of America by 41,151.7% during the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after purchasing an additional 155,142 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Packaging Co. of America by 218.1% during the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock worth $44,739,000 after buying an additional 142,400 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Company Profile

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.