Packaging Co. of America (NYSE:PKG) Price Target Increased to $183.00 by Analysts at Citigroup

Packaging Co. of America (NYSE:PKG) had its price objective lifted by Citigroup from $172.00 to $183.00 in a report published on Thursday morning, Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

Other analysts have also issued research reports about the company. Truist Financial increased their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the company a buy rating in a research note on Thursday, January 4th. Seaport Res Ptn lowered Packaging Co. of America from a buy rating to a neutral rating in a research note on Monday, January 29th. StockNews.com lowered Packaging Co. of America from a buy rating to a hold rating in a research note on Monday, February 12th. Finally, Bank of America raised Packaging Co. of America from a neutral rating to a buy rating and raised their price target for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $169.50.

Packaging Co. of America Stock Down 0.5 %

Shares of NYSE PKG opened at $187.66 on Thursday. The stock has a market capitalization of $16.84 billion, a P/E ratio of 22.13, a PEG ratio of 4.61 and a beta of 0.78. Packaging Co. of America has a one year low of $122.20 and a one year high of $190.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The firm’s 50 day simple moving average is $177.34 and its two-hundred day simple moving average is $165.00.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 earnings per share. As a group, analysts expect that Packaging Co. of America will post 8.18 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 58.96%.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,041 shares of company stock valued at $6,799,177. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Packaging Co. of America

Several institutional investors and hedge funds have recently added to or reduced their stakes in PKG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Packaging Co. of America by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,710 shares of the industrial products company’s stock valued at $1,984,000 after acquiring an additional 787 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Packaging Co. of America by 120.3% during the first quarter. Raymond James Trust N.A. now owns 3,792 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 2,071 shares in the last quarter. Cibc World Market Inc. bought a new position in shares of Packaging Co. of America during the first quarter valued at $693,000. Sei Investments Co. increased its holdings in shares of Packaging Co. of America by 3.0% during the first quarter. Sei Investments Co. now owns 162,403 shares of the industrial products company’s stock valued at $25,356,000 after acquiring an additional 4,701 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Packaging Co. of America by 58.6% during the first quarter. Canada Pension Plan Investment Board now owns 24,748 shares of the industrial products company’s stock valued at $3,863,000 after acquiring an additional 9,145 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

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.