Truist Financial Raises Packaging Co. of America (NYSE:PKG) Price Target to $219.00

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

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

Packaging Co. of America Trading Up 2.5 %

NYSE PKG opened at $199.00 on Thursday. The firm has a market cap 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. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The stock’s 50-day moving average is $184.62 and its 200-day moving average is $179.52. Packaging Co. of America has a one year low of $143.82 and a one year high of $199.42.

Packaging Co. of America (NYSE:PKG) last released 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. The company had revenue of $2.08 billion for 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%. Packaging Co. of America’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 earnings per share. Sell-side analysts anticipate that Packaging Co. of America will post 8.62 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.51%. Packaging Co. of America’s dividend payout ratio is 62.50%.

Insider Buying and Selling at Packaging Co. of America

In related news, Director Karen E. Gowland purchased 300 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the purchase, the director now directly owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Packaging Co. of America

A number of hedge funds have recently made changes to their positions in the business. OmniStar Financial Group Inc. lifted its position in shares of Packaging Co. of America by 4.1% in the second quarter. OmniStar Financial Group Inc. now owns 3,763 shares of the industrial products company’s stock valued at $687,000 after buying an additional 149 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Packaging Co. of America by 1.1% in the second quarter. HB Wealth Management LLC now owns 9,039 shares of the industrial products company’s stock valued at $1,650,000 after buying an additional 95 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Packaging Co. of America by 1.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,297 shares of the industrial products company’s stock valued at $2,610,000 after buying an additional 206 shares during the last quarter. Hyman Charles D lifted its position in shares of Packaging Co. of America by 0.3% in the second quarter. Hyman Charles D now owns 46,535 shares of the industrial products company’s stock valued at $8,495,000 after buying an additional 134 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of Packaging Co. of America by 16.1% in the second quarter. Raymond James Trust N.A. now owns 6,812 shares of the industrial products company’s stock valued at $1,244,000 after buying an additional 947 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

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.