Packaging Co. of America (NYSE:PKG) Price Target Raised to $221.00

by · The Cerbat Gem

Packaging Co. of America (NYSE:PKG – Free Report) had its price target upped by Citigroup from $199.00 to $221.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other research firms have also weighed in on PKG. Bank of America lifted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a buy rating in a report on Monday, June 17th. Wells Fargo & Company increased 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 research note on Thursday, July 25th. Truist Financial lifted their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a buy rating in a research note on Thursday, July 25th. Finally, StockNews.com cut Packaging Co. of America from a buy rating to a hold rating in a report on Saturday, September 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $196.17.

View Our Latest Analysis on PKG

Packaging Co. of America Price Performance

Shares of PKG opened at $213.42 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The company has a 50 day moving average price of $204.50 and a 200-day moving average price of $190.55. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $217.69. The stock has a market capitalization of $19.17 billion, a PE ratio of 26.68, a PEG ratio of 4.24 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG – Get Free Report) last issued its quarterly earnings results 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 company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.34%. Packaging Co. of America’s payout ratio is 62.50%.

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the company’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 $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Donald R. Shirley sold 6,000 shares of the firm’s 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 $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America 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 in the company, valued at approximately $5,012,794.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co lifted its stake in shares of Packaging Co. of America by 4.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after purchasing an additional 3,078 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Packaging Co. of America by 30.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after buying an additional 21,143 shares during the last quarter. Cim LLC purchased a new position in Packaging Co. of America during the fourth quarter worth about $2,003,000. Summit Financial Strategies Inc. increased its position in shares of Packaging Co. of America by 5.5% during the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after acquiring an additional 12,129 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Packaging Co. of America by 6.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock valued at $41,839,000 after acquiring an additional 14,277 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

About Packaging Co. of America

(Get Free Report)

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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