Wells Fargo & Company Raises Packaging Co. of America (NYSE:PKG) Price Target to $253.00

Packaging Co. of America (NYSE:PKG - Free Report) had its price target boosted by Wells Fargo & Company from $235.00 to $253.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the industrial products company's stock.

PKG has been the subject of several other research reports. Truist Financial boosted their price objective on Packaging Co. of America from $219.00 to $242.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Citigroup increased their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Finally, StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Packaging Co. of America has an average rating of "Moderate Buy" and a consensus price target of $221.60.

Packaging Co. of America Price Performance

Shares of PKG stock traded down $1.14 during trading hours on Thursday, hitting $227.51. 729,434 shares of the company's stock were exchanged, compared to its average volume of 473,058. The company has a market capitalization of $20.43 billion, a PE ratio of 26.52, a PEG ratio of 4.24 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 12-month low of $147.25 and a 12-month high of $231.30. The business's 50 day simple moving average is $210.82 and its 200-day simple moving average is $193.70.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping 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 19.35%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The firm's revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts anticipate that Packaging Co. of America will post 8.77 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.20%. Packaging Co. of America's dividend payout ratio is currently 58.28%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America in the first quarter worth approximately $25,000. Asset Dedication LLC boosted its stake in 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 during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Packaging Co. of America during the 3rd quarter valued at $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter worth $33,000. Finally, Headlands Technologies LLC bought a new position in shares of Packaging Co. of America during the first quarter valued at $43,000. Institutional investors own 89.78% of the company's stock.

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.