Packaging Co. of America (NYSE:PKG) Upgraded to “Buy” by StockNews.com

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

A number of other research analysts have also recently weighed in on PKG. Truist Financial lifted their target price on Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Citigroup increased their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Trading Down 0.5 %

NYSE PKG opened at $227.51 on Tuesday. The company has a market cap of $20.43 billion, a P/E ratio of 26.52, a P/E/G ratio of 4.24 and a beta of 0.77. Packaging Co. of America has a 12 month low of $147.25 and a 12 month high of $231.30. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The company has a 50-day moving average of $211.45 and a 200-day moving average of $193.93.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 earnings per share. As a group, equities analysts predict that Packaging Co. of America will post 8.77 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.20%. Packaging Co. of America’s payout ratio is currently 58.28%.

Hedge Funds Weigh In On Packaging Co. of America

A number of institutional investors and hedge funds have recently bought and sold shares of PKG. Coldstream Capital Management Inc. lifted its position in shares of Packaging Co. of America by 1.4% during the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 54 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Packaging Co. of America by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after buying an additional 56 shares in the last quarter. Moors & Cabot Inc. boosted its position in Packaging Co. of America by 2.1% in the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock valued at $491,000 after buying an additional 56 shares during the last quarter. Evergreen Capital Management LLC grew its stake in shares of Packaging Co. of America by 2.4% during the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock valued at $452,000 after acquiring an additional 57 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of Packaging Co. of America by 2.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

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.