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

Shares of Packaging Co. of America (NYSE:PKG) have been given a consensus rating of “Moderate Buy” by the seven analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $233.00.

Several research firms have weighed in on PKG. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Truist Financial reiterated a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th.

Packaging Co. of America Stock Up 0.9 %

PKG stock opened at $199.89 on Wednesday. The company’s 50 day simple moving average is $208.82 and its 200-day simple moving average is $222.13. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a market capitalization of $17.95 billion, a P/E ratio of 22.38, a P/E/G ratio of 2.41 and a beta of 0.77.

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 analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, equities research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.50%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Institutional Trading of Packaging Co. of America

Several large investors have recently made changes to their positions in the stock. Citigroup Inc. lifted its holdings in Packaging Co. of America by 30.7% in the 3rd quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock worth $24,772,000 after purchasing an additional 27,018 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Packaging Co. of America by 105.2% in the third quarter. Cerity Partners LLC now owns 15,833 shares of the industrial products company’s stock worth $3,410,000 after buying an additional 8,117 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the period. Daiwa Securities Group Inc. grew its stake in Packaging Co. of America by 12.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,941 shares of the industrial products company’s stock valued at $2,357,000 after buying an additional 1,228 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in Packaging Co. of America by 7.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 81,869 shares of the industrial products company’s stock worth $17,634,000 after acquiring an additional 5,361 shares during the period. Institutional investors own 89.78% of the company’s stock.

About Packaging Co. of America

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.