Packaging Co. of America (NYSE:PKG) Receives $233.00 Consensus Price Target from Brokerages

Shares of Packaging Co. of America (NYSE:PKG) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $233.00.

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Truist Financial restated a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th.

Institutional Trading of Packaging Co. of America

Several large investors have recently added to or reduced their stakes in the company. Citigroup Inc. boosted its holdings in shares of Packaging Co. of America by 30.7% in the 3rd quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock worth $24,772,000 after acquiring an additional 27,018 shares in the last quarter. Cerity Partners LLC raised its position in Packaging Co. of America by 105.2% in the 3rd quarter. Cerity Partners LLC now owns 15,833 shares of the industrial products company’s stock valued at $3,410,000 after purchasing an additional 8,117 shares during the last quarter. Larson Financial Group LLC raised its position 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 valued at $35,000 after purchasing an additional 115 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Packaging Co. of America by 12.6% in the third quarter. Daiwa Securities Group Inc. now owns 10,941 shares of the industrial products company’s stock worth $2,357,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Packaging Co. of America by 7.0% during the third quarter. Loomis Sayles & Co. L P now owns 81,869 shares of the industrial products company’s stock worth $17,634,000 after purchasing an additional 5,361 shares during the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Up 0.9 %

Shares of PKG stock opened at $199.89 on Wednesday. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market cap of $17.95 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The stock has a 50 day moving average of $208.82 and a 200-day moving average of $222.13.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, equities analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

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.