Packaging Co. of America (NYSE:PKG) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Packaging Co. of America (NYSE:PKG - Free Report) from a hold rating to a buy rating in a research report released on Saturday morning.

PKG has been the subject of several other reports. 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 report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Finally, Truist Financial reissued a "buy" rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $221.60.

Packaging Co. of America Trading Down 0.4 %

PKG traded down $0.99 on Friday, hitting $238.10. 851,555 shares of the company were exchanged, compared to its average volume of 602,469. 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 has a 12 month low of $159.57 and a 12 month high of $250.82. The firm has a fifty day simple moving average of $233.62 and a two-hundred day simple moving average of $208.94. The stock has a market capitalization of $21.38 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 3.35 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) 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 19.10%. The firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter last year, the business earned $2.05 earnings per share. The business's revenue was up 14.9% on a year-over-year basis. Sell-side analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.10%. Packaging Co. of America's dividend payout ratio (DPR) is 58.28%.

Insider Activity

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul T. Stecko sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares of the company's stock, valued at $2,175,045.71. This represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock worth $8,064,152 in the last quarter. 1.60% of the stock is owned by company insiders.

Institutional Trading of Packaging Co. of America

A number of hedge funds have recently made changes to their positions in PKG. Envestnet Portfolio Solutions Inc. increased its stake in Packaging Co. of America by 2.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,807 shares of the industrial products company's stock valued at $1,243,000 after purchasing an additional 135 shares in the last quarter. Raymond James & Associates increased its position in shares of Packaging Co. of America by 7.8% during the second quarter. Raymond James & Associates now owns 195,171 shares of the industrial products company's stock valued at $35,630,000 after acquiring an additional 14,112 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Packaging Co. of America by 20.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 15,137 shares of the industrial products company's stock worth $2,763,000 after acquiring an additional 2,524 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Packaging Co. of America by 8.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,113 shares of the industrial products company's stock valued at $2,962,000 after acquiring an additional 1,200 shares in the last quarter. Finally, LongView Wealth Management bought a new stake in shares of Packaging Co. of America in the 2nd quarter worth $714,000. 89.78% of the stock is owned by institutional investors.

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.