Packaging Co. of America (NYSE:PKG) Given New $194.00 Price Target at Wells Fargo & Company

Packaging Co. of America (NYSE:PKG) had its price target boosted by Wells Fargo & Company from $191.00 to $194.00 in a report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on PKG. BNP Paribas cut Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 target price on the stock. in a research report on Friday, April 12th. Truist Financial raised their price objective on Packaging Co. of America from $191.00 to $208.00 and gave the stock a buy rating in a research note on Thursday, May 30th. Bank of America raised their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a buy rating in a research note on Monday, June 17th. Citigroup raised their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the stock a neutral rating in a research note on Monday, July 8th. Finally, StockNews.com raised Packaging Co. of America from a hold rating to a buy rating in a research note on Tuesday, May 21st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $185.17.

Packaging Co. of America Trading Up 1.5 %

Shares of NYSE:PKG opened at $185.44 on Wednesday. The stock has a market capitalization of $16.65 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 5.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The stock’s 50-day simple moving average is $182.20 and its two-hundred day simple moving average is $177.51. Packaging Co. of America has a 52-week low of $132.70 and a 52-week high of $191.39.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm posted $2.20 earnings per share. Analysts expect that Packaging Co. of America will post 8.33 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insiders Place Their Bets

In other news, Director Karen E. Gowland acquired 300 shares of Packaging Co. of America stock in a transaction on Wednesday, May 15th. The shares were acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Packaging Co. of America

Large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in Packaging Co. of America during the 4th quarter valued at $880,000. International Assets Investment Management LLC increased its position in Packaging Co. of America by 19,323.7% during the 4th quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock valued at $4,936,000 after buying an additional 30,145 shares in the last quarter. Cim LLC acquired a new position in Packaging Co. of America during the 4th quarter valued at about $2,003,000. AXS Investments LLC acquired a new position in Packaging Co. of America during the 4th quarter valued at about $766,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in Packaging Co. of America during the 4th quarter valued at about $16,338,000. 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.