Packaging Co. of America (NYSE:PKG) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Packaging Co. of America (NYSE:PKG) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company increased their target price on Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Citigroup upped their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Truist Financial raised their target price on Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and a consensus price target of $221.60.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $227.51 on Tuesday. The stock has a fifty day moving average price of $211.45 and a 200 day moving average price of $193.93. Packaging Co. of America has a 1-year low of $147.25 and a 1-year high of $231.30. 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 company has a market cap of $20.43 billion, a PE ratio of 26.52, a P/E/G ratio of 4.24 and a beta of 0.77.

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

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.20%. Packaging Co. of America’s payout ratio is 58.28%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PKG. Victory Capital Management Inc. increased its holdings in Packaging Co. of America by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after acquiring an additional 41,903 shares in the last quarter. Boston Partners increased its stake in shares of Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after purchasing an additional 477,487 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Packaging Co. of America by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after purchasing an additional 86,005 shares during the last quarter. Millennium Management LLC lifted its stake in Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after buying an additional 262,315 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Packaging Co. of America by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock valued at $164,985,000 after buying an additional 42,465 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Company Profile

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.