Packaging Co. of America (NYSE:PKG) Price Target Increased to $253.00 by Analysts at Wells Fargo & Company

Packaging Co. of America (NYSE:PKG) had its price objective upped by Wells Fargo & Company from $235.00 to $253.00 in a research report report published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages also recently issued reports on PKG. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup upped their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial upped their target price on shares of Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Price Performance

Shares of NYSE:PKG traded up $0.30 during midday trading on Thursday, hitting $227.81. The company had a trading volume of 21,239 shares, compared to its average volume of 596,753. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $231.30. The stock has a market cap of $20.46 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The business’s 50-day simple moving average is $211.45 and its 200-day simple moving average is $193.93.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 EPS. On average, research analysts predict that Packaging Co. of America will post 8.77 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.19%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Hedge Funds Weigh In On Packaging Co. of America

Institutional investors have recently modified their holdings of the business. Park Avenue Securities LLC increased its holdings in Packaging Co. of America by 7.3% during the 1st quarter. Park Avenue Securities LLC now owns 4,327 shares of the industrial products company’s stock worth $821,000 after purchasing an additional 293 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in Packaging Co. of America in the first quarter valued at approximately $377,000. Wealth Enhancement Advisory Services LLC lifted its stake in Packaging Co. of America by 5.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,217 shares of the industrial products company’s stock worth $5,165,000 after acquiring an additional 1,421 shares during the last quarter. Register Financial Advisors LLC acquired a new position in Packaging Co. of America during the 1st quarter worth approximately $25,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Packaging Co. of America by 101.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,613 shares of the industrial products company’s stock valued at $2,394,000 after purchasing an additional 6,360 shares during the last quarter. Institutional investors and hedge funds 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.