Packaging Co. of America (NYSE:PKG) Receives $221.60 Consensus PT from Brokerages

Shares of Packaging Co. of America (NYSE:PKG) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $221.60.

Several brokerages have recently issued reports on PKG. Truist Financial reiterated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Citigroup raised their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd.

Packaging Co. of America Trading Up 0.4 %

Shares of PKG opened at $246.39 on Thursday. Packaging Co. of America has a one year low of $153.58 and a one year high of $248.62. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market capitalization of $22.13 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.44 and a beta of 0.76. The stock has a 50-day moving average price of $224.82 and a 200 day moving average price of $202.44.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Sell-side analysts forecast that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is 58.28%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock valued at $7,500,905 over the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Trading of Packaging Co. of America

Several institutional investors have recently added to or reduced their stakes in PKG. Asset Dedication LLC grew its position in Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Packaging Co. of America during the third quarter worth approximately $32,000. Tortoise Investment Management LLC acquired a new position in shares of Packaging Co. of America during the second quarter valued at about $33,000. Larson Financial Group LLC boosted its stake in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Packaging Co. of America during the second quarter valued at approximately $50,000. 89.78% of the stock is currently owned by institutional investors.

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.