Packaging Co. of America (NYSE:PKG) Receives Consensus Recommendation of “Buy” from Brokerages

Packaging Co. of America (NYSE:PKG) has earned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $237.80.

Several equities analysts have weighed in on PKG shares. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Citigroup boosted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Truist Financial restated a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, Wells Fargo & Company dropped their price target on Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th.

Packaging Co. of America Trading Up 0.2 %

NYSE:PKG opened at $187.07 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The company has a market cap of $16.82 billion, a PE ratio of 20.95, a PEG ratio of 2.41 and a beta of 0.84. The firm has a 50-day moving average of $198.57 and a 200-day moving average of $219.13.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, equities research analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PKG. QRG Capital Management Inc. increased its holdings in Packaging Co. of America by 0.6% in the 1st quarter. QRG Capital Management Inc. now owns 89,954 shares of the industrial products company’s stock worth $17,813,000 after acquiring an additional 574 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Packaging Co. of America in the first quarter valued at approximately $309,000. Janney Montgomery Scott LLC lifted its stake in shares of Packaging Co. of America by 27.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the industrial products company’s stock valued at $9,165,000 after buying an additional 9,921 shares in the last quarter. Mission Wealth Management LP boosted its holdings in Packaging Co. of America by 20.9% in the 1st quarter. Mission Wealth Management LP now owns 1,831 shares of the industrial products company’s stock worth $363,000 after buying an additional 316 shares during the period. Finally, Bank Pictet & Cie Europe AG bought a new stake in Packaging Co. of America during the 1st quarter valued at $245,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

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.