Brokerages Set Packaging Co. of America (NYSE:PKG) Price Target at $176.29

Packaging Co. of America (NYSE:PKG) has been given an average rating of “Hold” by the seven analysts that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $176.29.

PKG has been the topic of a number of recent analyst reports. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Truist Financial raised their price target on Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Citigroup decreased their price target on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Finally, BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th.

Insider Activity

In related news, Director Karen E. Gowland purchased 300 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the purchase, the director now owns 916 shares of the company’s stock, valued at approximately $166,766.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Large investors have recently bought and sold shares of the business. Register Financial Advisors LLC bought a new position in Packaging Co. of America in the first quarter worth approximately $25,000. Neo Ivy Capital Management purchased a new position in Packaging Co. of America in the fourth quarter worth $28,000. First Horizon Advisors Inc. grew its holdings in Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 69 shares during the last quarter. Gables Capital Management Inc. purchased a new position in Packaging Co. of America in the fourth quarter worth $31,000. Finally, Anchor Investment Management LLC purchased a new position in Packaging Co. of America in the fourth quarter worth $37,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $186.54 on Monday. Packaging Co. of America has a one year low of $127.69 and a one year high of $191.39. The stock’s fifty day moving average is $180.97 and its 200 day moving average is $176.16. The stock has a market cap of $16.75 billion, a P/E ratio of 23.32, a P/E/G ratio of 5.07 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the firm earned $2.20 EPS. Packaging Co. of America’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 annualized dividend and a yield of 2.68%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

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.