Shares of Packaging Co. of America (NYSE:PKG – Get Free Report) have earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $196.17.
A number of analysts recently weighed in on PKG shares. Bank of America increased their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Citigroup raised their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday. Truist Financial raised their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th.
Read Our Latest Research Report on PKG
Insider Activity
Hedge Funds Weigh In On Packaging Co. of America
Hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners boosted its position in Packaging Co. of America by 49.3% during the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after purchasing an additional 477,487 shares during the period. Balyasny Asset Management L.P. boosted its position in Packaging Co. of America by 175.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock worth $71,401,000 after purchasing an additional 279,059 shares during the period. Millennium Management LLC boosted its position in Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after purchasing an additional 262,315 shares during the period. AQR Capital Management LLC boosted its position in Packaging Co. of America by 164.3% during the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after purchasing an additional 249,483 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Packaging Co. of America by 31.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock worth $127,659,000 after purchasing an additional 189,401 shares during the period. 89.78% of the stock is owned by institutional investors.
Packaging Co. of America Stock Up 0.7 %
Shares of NYSE PKG opened at $213.42 on Wednesday. The firm has a market capitalization of $19.17 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $217.69. The firm’s 50-day moving average is $204.50 and its 200-day moving average is $190.55.
Packaging Co. of America (NYSE:PKG – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 EPS. Equities analysts expect that Packaging Co. of America will post 8.72 EPS for the current year.
Packaging Co. of America Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a $1.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.34%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.
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.
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