Wells Fargo & Company Lowers Packaging Co. of America (NYSE:PKG) Price Target to $236.00

Packaging Co. of America (NYSE:PKG) had its target price reduced by Wells Fargo & Company from $253.00 to $236.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 11.06% from the company’s previous close.

PKG has been the subject of a number of other reports. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup lifted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Finally, Truist Financial increased their target price on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Down 0.8 %

Shares of NYSE:PKG opened at $212.49 on Thursday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a market cap of $19.08 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 2.12 and a beta of 0.79. The stock’s 50-day moving average price is $234.01 and its two-hundred day moving average price is $220.19. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (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%. On average, research analysts forecast that Packaging Co. of America will post 11.31 EPS for the current year.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Public Sector Pension Investment Board raised its position in shares of Packaging Co. of America by 66.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,330 shares of the industrial products company’s stock valued at $608,000 after purchasing an additional 1,329 shares in the last quarter. Creative Planning boosted its stake in Packaging Co. of America by 7.5% during the 2nd quarter. Creative Planning now owns 16,308 shares of the industrial products company’s stock valued at $2,977,000 after acquiring an additional 1,137 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Packaging Co. of America by 11.7% during the 2nd quarter. NewEdge Advisors LLC now owns 10,847 shares of the industrial products company’s stock worth $1,980,000 after acquiring an additional 1,138 shares in the last quarter. Quarry LP grew its holdings in Packaging Co. of America by 95.9% during the 2nd quarter. Quarry LP now owns 521 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 255 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Packaging Co. of America by 3.0% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 3,772 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

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.