Packaging Co. of America (NYSE:PKG) PT Raised to $219.00

Packaging Co. of America (NYSE:PKG) had its target price raised by Truist Financial from $215.00 to $219.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on PKG. BNP Paribas lowered Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 target price for the company. in a report on Friday, April 12th. Citigroup upped their target price on Packaging Co. of America from $181.00 to $187.00 and gave the company a neutral rating in a report on Monday, July 8th. Wells Fargo & Company upped their target price on Packaging Co. of America from $191.00 to $194.00 and gave the company an overweight rating in a report on Wednesday, July 10th. Bank of America upped their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a buy rating in a report on Monday, June 17th. Finally, StockNews.com raised Packaging Co. of America from a hold rating to a buy rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $190.50.

Packaging Co. of America Stock Performance

Shares of PKG opened at $199.00 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The stock has a 50 day moving average price of $184.62 and a two-hundred day moving average price of $179.52. The firm has a market capitalization of $17.87 billion, a P/E ratio of 24.88, a P/E/G ratio of 5.20 and a beta of 0.77. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $199.42.

Packaging Co. of America (NYSE:PKG) last issued 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. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.31 EPS. Equities analysts forecast that Packaging Co. of America will post 8.62 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.51%. The ex-dividend date was Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Karen E. Gowland acquired 300 shares of Packaging Co. of America stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Packaging Co. of America

Several institutional investors have recently made changes to their positions in PKG. Raymond James & Associates lifted its position in shares of Packaging Co. of America by 6.2% during the fourth quarter. Raymond James & Associates now owns 169,138 shares of the industrial products company’s stock worth $27,554,000 after acquiring an additional 9,861 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Packaging Co. of America by 17.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,399 shares of the industrial products company’s stock worth $2,672,000 after acquiring an additional 2,433 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Packaging Co. of America by 40.7% during the fourth quarter. Pacer Advisors Inc. now owns 8,195 shares of the industrial products company’s stock worth $1,335,000 after acquiring an additional 2,369 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth $668,000. Finally, Blue Trust Inc. lifted its position in shares of Packaging Co. of America by 17.9% during the fourth quarter. Blue Trust Inc. now owns 2,433 shares of the industrial products company’s stock worth $374,000 after acquiring an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

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.