Packaging Co. of America (NYSE:PKG) Receives $238.67 Average Target Price from Brokerages

Packaging Co. of America (NYSE:PKG) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $238.67.

PKG has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup raised their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. 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, January 6th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th.

Packaging Co. of America Stock Performance

NYSE PKG opened at $227.57 on Friday. The company has a 50-day simple moving average of $235.96 and a two-hundred day simple moving average of $215.26. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82. The firm has a market cap of $20.44 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 3.34 and a beta of 0.79. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

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

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.20%. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The transaction 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 company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock valued at $8,064,152 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PKG. Central Pacific Bank Trust Division purchased a new stake in Packaging Co. of America in the third quarter worth about $32,000. Fortitude Family Office LLC grew its stake in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the period. Larson Financial Group LLC increased its holdings in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Assetmark Inc. raised its stake in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Packaging Co. of America during the third quarter valued at approximately $64,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

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.