Packaging Co. of America (NYSE:PKG) Receives $233.00 Consensus PT from Brokerages

Packaging Co. of America (NYSE:PKG) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $233.00.

A number of research firms have weighed in on PKG. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Truist Financial restated a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Citigroup increased their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a 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 price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $212.24 on Tuesday. The company has a 50 day simple moving average of $231.11 and a two-hundred day simple moving average of $220.74. The stock has a market cap of $19.06 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.29 and a beta of 0.77. 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 has a 12 month low of $163.29 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, analysts predict that Packaging Co. of America will post 11.15 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.36%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Insiders Place Their Bets

In related news, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,800 shares of company stock worth $5,056,402. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Packaging Co. of America

A number of large investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its stake in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after buying an additional 98 shares during the last quarter. Larson Financial Group LLC lifted its position 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 during the last quarter. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America in the fourth quarter worth about $44,000. Golden State Wealth Management LLC bought a new stake in Packaging Co. of America in the fourth quarter valued at about $48,000. Finally, Assetmark Inc. raised its stake in Packaging Co. of America by 44.6% during the third 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.

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.