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

StockNews.com upgraded shares of Packaging Co. of America (NYSE:PKG) from a hold rating to a buy rating in a report published on Tuesday.

Several other equities analysts also recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup boosted their target price on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $221.60.

Packaging Co. of America Stock Performance

Shares of PKG opened at $235.58 on Tuesday. The company has a 50-day moving average of $220.55 and a two-hundred day moving average of $199.52. The stock has a market cap of $21.16 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 3.35 and a beta of 0.76. 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 $148.50 and a one year high of $245.00.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates 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 business posted $2.05 EPS. On average, equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Insider Transactions at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the transaction, the senior vice president now owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

A number of hedge funds have recently bought and sold shares of PKG. Boston Partners increased its position in shares of Packaging Co. of America by 49.3% during the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after acquiring an additional 477,487 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after purchasing an additional 262,315 shares in the last quarter. AQR Capital Management LLC increased its holdings in Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after buying an additional 249,483 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Packaging Co. of America by 41,151.7% during the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after acquiring an additional 155,142 shares during the period. Finally, Mizuho Securities USA LLC grew its stake in shares of Packaging Co. of America by 1,800.2% in the third quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock worth $28,128,000 after acquiring an additional 123,711 shares during the period. 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.