Packaging Co. of America (NYSE:PKG) Receives $221.60 Consensus Target Price from Brokerages

Packaging Co. of America (NYSE:PKG - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $221.60.

PKG has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Citigroup raised their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Truist Financial reissued a "buy" rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th.

Packaging Co. of America Trading Down 0.4 %

Shares of PKG traded down $1.01 during trading hours on Monday, reaching $237.09. The stock had a trading volume of 572,735 shares, compared to its average volume of 603,197. The company has a market cap of $21.29 billion, a P/E ratio of 27.63, a P/E/G ratio of 3.34 and a beta of 0.77. Packaging Co. of America has a 52 week low of $159.57 and a 52 week high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $234.09 and a 200 day moving average of $209.54.

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

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be paid a dividend of $1.25 per share. 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 2.11%. Packaging Co. of America's payout ratio is 58.28%.

Insider Transactions at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares of the company's stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the transaction, the senior vice president now owns 15,725 shares of the company's stock, valued at approximately $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,300 shares of company stock valued at $8,064,152. Company insiders own 1.60% of the company's stock.

Institutional Trading of Packaging Co. of America

A number of hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in shares of Packaging Co. of America in the third quarter worth $32,000. Larson Financial Group LLC grew its position in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after buying an additional 115 shares during the last quarter. Asset Dedication LLC increased its stake in shares of Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock valued at $31,000 after buying an additional 112 shares during the period. Tortoise Investment Management LLC bought a new position in shares of Packaging Co. of America during the second quarter worth about $33,000. Finally, Assetmark Inc. lifted its stake in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after acquiring an additional 83 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

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.