Packaging Co. of America (NYSE:PKG) Upgraded 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 report published on Wednesday.

Several other research firms have also commented on PKG. Truist Financial restated a "buy" rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and raised their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company reduced their price target on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Citigroup increased their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $233.00.

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Packaging Co. of America Stock Performance

Shares of NYSE PKG traded up $2.33 during trading on Wednesday, reaching $213.08. 747,330 shares of the company traded hands, compared to its average volume of 913,916. The stock has a market cap of $19.14 billion, a P/E ratio of 23.86, a PEG ratio of 2.41 and a beta of 0.77. The firm's fifty day simple moving average is $222.19 and its 200 day simple moving average is $222.61. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's dividend payout ratio is currently 55.99%.

Insider Buying and Selling at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company's stock, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

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. Allworth Financial LP lifted its stake in Packaging Co. of America by 65.1% in the 3rd quarter. Allworth Financial LP now owns 312 shares of the industrial products company's stock worth $67,000 after purchasing an additional 123 shares in the last quarter. Forsta AP Fonden lifted its position in Packaging Co. of America by 4.5% during the third quarter. Forsta AP Fonden now owns 18,700 shares of the industrial products company's stock worth $4,028,000 after buying an additional 800 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in Packaging Co. of America during the third quarter worth approximately $356,000. First Trust Direct Indexing L.P. boosted its stake in Packaging Co. of America by 9.9% during the third quarter. First Trust Direct Indexing L.P. now owns 2,943 shares of the industrial products company's stock worth $634,000 after buying an additional 264 shares during the last quarter. Finally, Diversify Wealth Management LLC purchased a new stake in Packaging Co. of America in the 3rd quarter valued at $10,526,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

About Packaging Co. of America

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.