Brokerages Set Packaging Co. of America (NYSE:PKG) PT at $176.29

Shares of Packaging Co. of America (NYSE:PKG) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $183.67.

Several brokerages recently commented on PKG. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. BNP Paribas cut 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. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $187.00 to $191.00 in a research note on Wednesday, April 24th. Truist Financial lifted their target price on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Bank of America lifted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th.

Packaging Co. of America Price Performance

PKG opened at $182.56 on Monday. The company has a market capitalization of $16.39 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 4.94 and a beta of 0.78. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $181.12 and a 200-day moving average price of $176.51. Packaging Co. of America has a twelve month low of $127.69 and a twelve month high of $191.39.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. Packaging Co. of America’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 earnings per share. Equities analysts expect that Packaging Co. of America will post 8.33 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.74%. Packaging Co. of America’s payout ratio is 62.50%.

Insider Activity at Packaging Co. of America

In other news, Director Karen E. Gowland purchased 300 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was bought at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the acquisition, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Packaging Co. of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. increased its position in Packaging Co. of America by 2.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 59 shares during the period. CENTRAL TRUST Co increased its position in Packaging Co. of America by 1.8% during the 4th quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 62 shares during the period. Scotia Capital Inc. increased its position in Packaging Co. of America by 1.2% during the 3rd quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 63 shares during the period. Essex Savings Bank increased its position in Packaging Co. of America by 4.0% during the 4th quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 63 shares during the period. Finally, Mather Group LLC. increased its position in Packaging Co. of America by 3.0% during the 4th quarter. Mather Group LLC. now owns 2,263 shares of the industrial products company’s stock valued at $369,000 after purchasing an additional 66 shares during the period. 89.78% of the stock is currently owned by institutional investors.

About Packaging Co. of America

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.