Brokerages Set Packaging Co. of America (NYSE:PKG) PT at $233.00

Shares of Packaging Co. of America (NYSE:PKG) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $233.00.

A number of research analysts have issued reports on the company. 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 report on Monday, January 6th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Truist Financial reissued a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $205.56 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $221.30 and a 200 day moving average price of $222.94. The firm has a market capitalization of $18.46 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.43%. Packaging Co. of America’s payout ratio is 55.99%.

Institutional Trading of Packaging Co. of America

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC boosted its position in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC bought a new position in Packaging Co. of America in the fourth quarter valued at about $44,000. Lazard Asset Management LLC boosted its holdings in Packaging Co. of America by 1,033.3% in the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 186 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America in the fourth quarter worth about $48,000. Institutional investors and hedge funds 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.