Packaging Co. of America (NYSE:PKG) Lifted 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 research note released on Thursday morning.

Other analysts have also issued research reports about the company. Citigroup increased their price target on Packaging Co. of America from $181.00 to $187.00 and gave the company a neutral rating in a research report on Monday, July 8th. Bank of America boosted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a buy rating in a report on Monday, June 17th. Truist Financial increased their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a buy rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company upped their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an overweight rating in a report on Thursday, July 25th. Four 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 presently has an average rating of Moderate Buy and a consensus target price of $190.50.

Packaging Co. of America Stock Down 1.3 %

Shares of Packaging Co. of America stock opened at $212.90 on Thursday. The firm has a market cap of $19.12 billion, a PE ratio of 26.61, a P/E/G ratio of 4.22 and a beta of 0.77. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $217.69. The business’s 50 day simple moving average is $200.42 and its 200 day simple moving average is $188.73. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Packaging Co. of America will post 8.72 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, October 15th. Investors of record on Monday, September 16th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s payout ratio is 62.50%.

Insider Buying and Selling at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

A number of hedge funds and other institutional investors have recently made changes to their positions in PKG. Norges Bank acquired a new position in Packaging Co. of America in the 4th quarter valued at $163,314,000. PNC Financial Services Group Inc. grew its stake in Packaging Co. of America by 2.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 60,703 shares of the industrial products company’s stock worth $9,889,000 after buying an additional 1,392 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Packaging Co. of America by 37.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,389 shares of the industrial products company’s stock valued at $552,000 after buying an additional 928 shares during the period. Balentine LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at approximately $228,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Packaging Co. of America by 8.2% during the 4th quarter. Franklin Resources Inc. now owns 157,739 shares of the industrial products company’s stock worth $25,697,000 after acquiring an additional 11,932 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

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.