Packaging Co. of America (NYSE:PKG) Price Target Raised to $221.00

Packaging Co. of America (NYSE:PKG) had its price target hoisted by Citigroup from $199.00 to $221.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company upped their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an overweight rating in a report on Thursday, July 25th. Bank of America raised their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a buy rating in a research report on Monday, June 17th. StockNews.com downgraded shares of Packaging Co. of America from a buy rating to a hold rating in a report on Saturday, September 28th. Finally, Truist Financial lifted their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $196.17.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $213.37 on Wednesday. The company has a market cap of $19.16 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $217.69. The business has a 50 day moving average price of $204.79 and a 200-day moving average price of $190.78.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.06. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.31 EPS. Equities analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s payout ratio is currently 62.50%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PKG. Boston Partners raised its holdings in shares of Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after acquiring an additional 477,487 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Packaging Co. of America by 175.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock valued at $71,401,000 after purchasing an additional 279,059 shares in the last quarter. Millennium Management LLC lifted its position in Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after purchasing an additional 262,315 shares during the last quarter. AQR Capital Management LLC lifted its position in Packaging Co. of America by 164.3% during the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after purchasing an additional 249,483 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Packaging Co. of America by 31.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock worth $127,659,000 after buying an additional 189,401 shares in the last quarter. 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.