Brokerages Set Packaging Co. of America (NYSE:PKG) Price Target at $221.60

Shares of Packaging Co. of America (NYSE:PKG) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $221.60.

A number of equities research analysts have recently commented on the stock. Truist Financial reiterated a “buy” rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday.

Insider Buying and Selling at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the business’s 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. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,000 shares of company stock worth $7,500,905. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Packaging Co. of America

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aldebaran Financial Inc. purchased a new position in Packaging Co. of America during the 3rd quarter valued at about $215,000. Passumpsic Savings Bank acquired a new stake in Packaging Co. of America in the 3rd quarter worth about $212,000. Toronto Dominion Bank increased its position in Packaging Co. of America by 1.4% during the third quarter. Toronto Dominion Bank now owns 44,122 shares of the industrial products company’s stock worth $9,504,000 after purchasing an additional 627 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Packaging Co. of America by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after buying an additional 12,936 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Packaging Co. of America by 5.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 41,120 shares of the industrial products company’s stock worth $8,857,000 after purchasing an additional 2,052 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $246.39 on Thursday. Packaging Co. of America has a 1 year low of $153.58 and a 1 year high of $248.62. 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 company has a market capitalization of $22.13 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.44 and a beta of 0.76. The company’s fifty day moving average price is $224.82 and its 200 day moving average price is $202.44.

Packaging Co. of America (NYSE:PKG) last issued its quarterly 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 19.10%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm earned $2.05 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, research analysts predict that Packaging Co. of America will post 9.07 earnings per share 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. Stockholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 58.28%.

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.