Citigroup Issues Positive Forecast for Packaging Co. of America (NYSE:PKG) Stock Price

Packaging Co. of America (NYSE:PKG - Free Report) had its target price raised by Citigroup from $232.00 to $235.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the industrial products company's stock.

Several other research firms have also recently weighed in on PKG. Truist Financial upped their target price on Packaging Co. of America from $252.00 to $282.00 and gave the stock a "buy" rating in a research note on Monday. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Tuesday, December 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $238.67.

Packaging Co. of America Price Performance

Shares of NYSE PKG traded up $0.96 during mid-day trading on Monday, reaching $226.84. The company had a trading volume of 794,991 shares, compared to its average volume of 730,397. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 3.34 and a beta of 0.79. The business's 50-day simple moving average is $236.05 and its 200 day simple moving average is $214.12. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the firm earned $2.05 EPS. The business's quarterly revenue was up 14.9% compared to the same quarter last year. On average, research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.20%. Packaging Co. of America's dividend payout ratio (DPR) is presently 58.28%.

Insider Buying and Selling

In other news, SVP Joseph Vaughn sold 2,300 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the transaction, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock worth $8,064,152 in the last ninety days. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Packaging Co. of America

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Asset Dedication LLC boosted its position in shares of Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America in the third quarter valued at approximately $32,000. 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 in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America during the 2nd quarter worth approximately $50,000. Finally, Assetmark Inc. increased its stake in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Co. of America Company Profile

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.