Packaging Co. of America (NYSE:PKG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Packaging Co. of America (NYSE:PKG) from a hold rating to a buy rating in a report published on Tuesday morning.

Several other brokerages have also recently commented on PKG. Wells Fargo & Company upped their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, Citigroup boosted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.60.

Packaging Co. of America Trading Up 0.1 %

Shares of NYSE PKG opened at $235.81 on Tuesday. The firm has a 50 day moving average price of $221.23 and a two-hundred day moving average price of $199.93. The stock has a market cap of $21.18 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 3.35 and a beta of 0.76. Packaging Co. of America has a 52-week low of $148.50 and a 52-week high of $245.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. As a group, equities analysts forecast that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.12%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the firm’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 directly owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Hedge funds have recently added to or reduced their stakes in the stock. Asset Dedication LLC boosted its position in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Packaging Co. of America during the 3rd quarter worth $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter worth $33,000. Larson Financial Group LLC raised its holdings in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Packaging Co. of America during the first quarter valued at about $43,000. Institutional investors and hedge funds 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.