Packaging Co. of America (NYSE:PKG) Receives $169.50 Consensus Target Price from Analysts

Packaging Co. of America (NYSE:PKG) has received a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $171.29.

A number of brokerages have weighed in on PKG. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Truist Financial upped their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Citigroup increased their price objective on shares of Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Finally, BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research note on Friday, April 12th.

Packaging Co. of America Trading Down 0.5 %

Shares of PKG opened at $179.53 on Wednesday. The firm has a market capitalization of $16.11 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 4.38 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The company has a 50-day moving average of $180.50 and a 200 day moving average of $167.14.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.30. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.90 billion. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $2.35 earnings per share. On average, research analysts expect that Packaging Co. of America will post 8.31 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.79%. Packaging Co. of America’s dividend payout ratio is presently 58.96%.

Insider Buying and Selling

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Insiders have sold a total of 38,041 shares of company stock worth $6,799,177 in the last ninety days. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Packaging Co. of America

Hedge funds have recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Packaging Co. of America during the third quarter worth about $25,000. Register Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America in the first quarter worth approximately $25,000. Clear Street Markets LLC increased its position in shares of Packaging Co. of America by 94.6% during the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 88 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Packaging Co. of America in the 4th quarter valued at $28,000. Finally, ICA Group Wealth Management LLC acquired a new position in Packaging Co. of America in the 4th quarter valued at $28,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

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.