Packaging Co. of America (NYSE:PKG) Price Target Increased to $242.00 by Analysts at Truist Financial

Packaging Co. of America (NYSE:PKG) had its price objective increased by Truist Financial from $219.00 to $242.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

PKG has been the topic of several other research reports. Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an overweight rating in a research note on Monday, October 7th. StockNews.com downgraded shares of Packaging Co. of America from a buy rating to a hold rating in a report on Saturday, September 28th. Citigroup upped their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a neutral rating in a research report on Wednesday, October 2nd. Finally, Bank of America lifted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a buy rating in a research report on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $203.33.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $220.78 on Tuesday. The firm has a market capitalization of $19.83 billion, a PE ratio of 27.60, a PEG ratio of 4.25 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 $222.76. The firm’s fifty day simple moving average is $207.61 and its 200 day simple moving average is $192.34.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that Packaging Co. of America will post 8.73 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Packaging Co. of America

Several hedge funds and other institutional investors have recently made changes to their positions in PKG. Coldstream Capital Management Inc. boosted its holdings in Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 54 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Packaging Co. of America by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after purchasing an additional 56 shares during the last quarter. Moors & Cabot Inc. grew its position in shares of Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after buying an additional 56 shares during the period. Evergreen Capital Management LLC raised its stake in shares of Packaging Co. of America by 2.4% during the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after buying an additional 57 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Packaging Co. of America by 2.8% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after buying an additional 59 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Company Profile

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.