Packaging Co. of America (NYSE:PKG) Receives $238.67 Consensus PT from Analysts

Shares of Packaging Co. of America (NYSE:PKG) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $238.67.

Several analysts recently commented on PKG shares. Citigroup lifted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company upped their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Truist Financial increased their price objective on Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th.

Packaging Co. of America Price Performance

NYSE PKG opened at $227.57 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 3.34 and a beta of 0.79. The business has a 50 day simple moving average of $235.96 and a 200 day simple moving average of $215.26. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The company’s revenue was up 14.9% on a year-over-year basis. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

Insider Activity

In related news, SVP Donald R. Shirley sold 8,000 shares of the business’s 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 sale, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the sale, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This trade represents a 22.14 % 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 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Packaging Co. of America

Large investors have recently modified their holdings of the company. Stifel Financial Corp raised its stake in Packaging Co. of America by 1,462.2% in the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after purchasing an additional 536,389 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of 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 worth $187,596,000 after purchasing an additional 262,315 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after purchasing an additional 249,483 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Packaging Co. of America by 41,151.7% during the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after purchasing an additional 155,142 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after buying an additional 142,400 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Company Profile

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.