Analysts’ Weekly Ratings Changes for Packaging Co. of America (PKG)

Several brokerages have updated their recommendations and price targets on shares of Packaging Co. of America (NYSE: PKG) in the last few weeks:

• 7/25/2024 – Packaging Co. of America had its price target raised by analysts at Wells Fargo & Company from $194.00 to $215.00. They now have an “overweight” rating on the stock.
• 7/25/2024 – Packaging Co. of America had its price target raised by analysts at Truist Financial Co. from $215.00 to $219.00. They now have a “buy” rating on the stock.
• 7/24/2024 – Packaging Co. of America was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/16/2024 – Packaging Co. of America was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/16/2024 – Packaging Co. of America had its price target raised by analysts at Truist Financial Co. from $208.00 to $215.00. They now have a “buy” rating on the stock.
• 7/10/2024 – Packaging Co. of America had its price target raised by analysts at Wells Fargo & Company from $191.00 to $194.00. They now have an “overweight” rating on the stock.
• 7/8/2024 – Packaging Co. of America had its price target raised by analysts at Citigroup Inc. from $181.00 to $187.00. They now have a “neutral” rating on the stock.
• 6/17/2024 – Packaging Co. of America had its price target raised by analysts at Bank of America Co. from $197.00 to $200.00. They now have a “buy” rating on the stock.

Packaging Co. of America Stock Performance

Packaging Co. of America stock traded down $0.66 during mid-day trading on Tuesday, reaching $197.74. 443,784 shares of the company were exchanged, compared to its average volume of 628,122. The firm’s 50-day simple moving average is $185.27 and its two-hundred day simple moving average is $179.97. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $199.88. The firm has a market cap of $17.76 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 5.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $2.31 earnings per share. Equities analysts predict that Packaging Co. of America will post 8.62 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Institutional Trading of Packaging Co. of America

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Packaging Co. of America by 17.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,399 shares of the industrial products company’s stock valued at $2,672,000 after acquiring an additional 2,433 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Packaging Co. of America by 40.7% during the 4th quarter. Pacer Advisors Inc. now owns 8,195 shares of the industrial products company’s stock worth $1,335,000 after buying an additional 2,369 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Packaging Co. of America by 5.9% in the 4th quarter. State of Alaska Department of Revenue now owns 33,076 shares of the industrial products company’s stock worth $5,387,000 after buying an additional 1,855 shares during the period. Realta Investment Advisors acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at about $351,000. Finally, Fifth Third Bancorp lifted its position in Packaging Co. of America by 1.3% during the fourth quarter. Fifth Third Bancorp now owns 86,691 shares of the industrial products company’s stock valued at $14,123,000 after buying an additional 1,100 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

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.