Packaging Co. of America (NYSE:PKG) Price Target Raised to $282.00 at Truist Financial

Packaging Co. of America (NYSE:PKG) had its target price lifted by Truist Financial from $252.00 to $282.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts have also commented on PKG. Wells Fargo & Company raised their price target 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. Citigroup raised their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $238.67.

Packaging Co. of America Trading Up 0.4 %

Shares of Packaging Co. of America stock opened at $226.84 on Monday. The stock has a market capitalization of $20.37 billion, a P/E ratio of 26.44, a P/E/G ratio of 3.34 and a beta of 0.79. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock’s 50-day simple moving average is $236.05 and its 200 day simple moving average is $214.12.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. As a group, research analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America’s payout ratio is currently 58.28%.

Insiders Place Their Bets

In related news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction dated 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 transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock worth $8,064,152 over the last three months. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc boosted its stake in Packaging Co. of America by 5.6% in the 2nd quarter. TD Asset Management Inc now owns 52,422 shares of the industrial products company’s stock worth $9,570,000 after purchasing an additional 2,768 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Packaging Co. of America by 22.3% in the second quarter. National Bank of Canada FI now owns 26,605 shares of the industrial products company’s stock worth $4,789,000 after buying an additional 4,845 shares in the last quarter. Candriam S.C.A. grew its holdings in shares of Packaging Co. of America by 18.7% during the second quarter. Candriam S.C.A. now owns 7,292 shares of the industrial products company’s stock valued at $1,331,000 after buying an additional 1,150 shares during the last quarter. Savant Capital LLC increased its position in shares of Packaging Co. of America by 97.7% during the second quarter. Savant Capital LLC now owns 8,027 shares of the industrial products company’s stock valued at $1,465,000 after acquiring an additional 3,967 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Packaging Co. of America during the second quarter valued at approximately $50,000. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Company Profile

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.