Packaging Co. of America (NYSE:PKG) Given New $194.00 Price Target at Wells Fargo & Company

Packaging Co. of America (NYSE:PKG) had its price target hoisted by Wells Fargo & Company from $191.00 to $194.00 in a research report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

PKG has been the topic of a number of other reports. BNP Paribas downgraded shares of Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 target price on the stock. in a report on Friday, April 12th. Citigroup upped their price objective on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a neutral rating in a report on Monday, July 8th. Bank of America upped their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a buy rating in a report on Monday, June 17th. StockNews.com upgraded shares of Packaging Co. of America from a hold rating to a buy rating in a report on Tuesday, May 21st. Finally, Truist Financial upped their price objective on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a buy rating in a report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America has a consensus rating of Moderate Buy and a consensus target price of $185.17.

Packaging Co. of America Price Performance

Shares of PKG opened at $185.44 on Wednesday. The company has a market cap of $16.65 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 5.02 and a beta of 0.77. Packaging Co. of America has a 1-year low of $132.70 and a 1-year high of $191.39. The company’s fifty day simple moving average is $182.20 and its 200 day simple moving average is $177.51. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62.

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

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.70%. Packaging Co. of America’s payout ratio is presently 62.50%.

Insider Activity

In other Packaging Co. of America news, Director Karen E. Gowland bought 300 shares of Packaging Co. of America stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the transaction, the director now owns 916 shares in the company, valued at approximately $166,766.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Packaging Co. of America

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fortis Group Advisors LLC bought a new position in shares of Packaging Co. of America in the third quarter worth about $46,000. Anchor Investment Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth about $37,000. Capital Investment Advisors LLC lifted its holdings in shares of Packaging Co. of America by 2.5% in the fourth quarter. Capital Investment Advisors LLC now owns 68,319 shares of the industrial products company’s stock worth $11,130,000 after acquiring an additional 1,642 shares during the last quarter. Juncture Wealth Strategies LLC lifted its holdings in shares of Packaging Co. of America by 12.0% in the fourth quarter. Juncture Wealth Strategies LLC now owns 2,798 shares of the industrial products company’s stock worth $456,000 after acquiring an additional 300 shares during the last quarter. Finally, Wedmont Private Capital bought a new position in shares of Packaging Co. of America in the fourth quarter worth about $240,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Company Profile

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.