Packaging Co. of America (NYSE:PKG) Price Target Increased to $187.00 by Analysts at Citigroup

Packaging Co. of America (NYSE:PKG) had its price objective raised by Citigroup from $181.00 to $187.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other brokerages have also weighed in on PKG. StockNews.com raised Packaging Co. of America from a hold rating to a buy rating in a research report on Tuesday, May 21st. Truist Financial upped their target price on Packaging Co. of America from $191.00 to $208.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Bank of America increased their price objective 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. BNP Paribas lowered Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 price objective on the stock. in a report on Friday, April 12th. Finally, Wells Fargo & Company raised Packaging Co. of America from an equal weight rating to an overweight rating and increased their price objective for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of Moderate Buy and an average price target of $185.17.

Packaging Co. of America Stock Up 1.7 %

Shares of Packaging Co. of America stock opened at $182.77 on Monday. The stock has a 50-day moving average price of $182.02 and a 200 day moving average price of $177.27. The company has a market cap of $16.41 billion, a P/E ratio of 22.85, a P/E/G ratio of 4.86 and a beta of 0.77. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 1 year low of $132.70 and a 1 year high of $191.39.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. As a group, analysts expect that Packaging Co. of America will post 8.33 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $1.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.74%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insiders Place Their Bets

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 bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the transaction, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Packaging Co. of America by 2.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after buying an additional 59 shares during the period. CENTRAL TRUST Co lifted its position in shares of Packaging Co. of America by 1.8% during the 4th quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock worth $559,000 after buying an additional 62 shares during the period. Essex Savings Bank lifted its position in shares of Packaging Co. of America by 4.0% during the 4th quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock worth $268,000 after buying an additional 63 shares during the period. Mather Group LLC. lifted its position in shares of Packaging Co. of America by 3.0% during the 4th quarter. Mather Group LLC. now owns 2,263 shares of the industrial products company’s stock worth $369,000 after buying an additional 66 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in shares of Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after buying an additional 69 shares during the period. Institutional investors own 89.78% of the company’s stock.

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.