Packaging Co. of America (NYSE:PKG) Price Target Raised to $282.00

Packaging Co. of America (NYSE:PKG) had its price objective lifted by Truist Financial from $252.00 to $282.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup upped their price target on shares of 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, Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.67.

Packaging Co. of America Price Performance

PKG opened at $228.17 on Monday. The business’s fifty day simple moving average is $236.03 and its 200-day simple moving average is $214.51. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82. The company has a market capitalization of $20.49 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 3.34 and a beta of 0.79. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last posted 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 for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, equities research analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.19%. Packaging Co. of America’s payout ratio is 58.28%.

Insider Activity at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock worth $8,064,152 in the last three months. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Asset Dedication LLC increased its holdings in Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America during the third quarter worth about $32,000. Larson Financial Group LLC increased its stake in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America during the 2nd quarter worth about $50,000. Finally, Assetmark Inc. lifted its stake in Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after buying an additional 83 shares in 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 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.