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

StockNews.com upgraded shares of Packaging Co. of America (NYSE:PKG) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Several other research firms have also recently weighed in on PKG. Citigroup boosted their price target on Packaging Co. of America from $181.00 to $187.00 and gave the stock a neutral rating in a report on Monday, July 8th. Bank of America raised their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a buy rating in a research note on Monday, June 17th. Truist Financial increased their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a buy rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $190.50.

Packaging Co. of America Trading Down 1.3 %

Shares of Packaging Co. of America stock opened at $212.90 on Thursday. The firm’s 50 day moving average is $200.42 and its 200 day moving average is $188.73. The firm has a market capitalization of $19.12 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 4.22 and a beta of 0.77. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $217.69. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.35%. Packaging Co. of America’s payout ratio is presently 62.50%.

Insiders Place Their Bets

In other news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its stake in shares of Packaging Co. of America by 1.5% in the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock worth $520,920,000 after purchasing an additional 41,903 shares during the last quarter. FIL Ltd raised its position in Packaging Co. of America by 2.6% in the 4th quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock valued at $360,031,000 after buying an additional 55,000 shares during the last quarter. Boston Partners lifted its stake in Packaging Co. of America by 49.3% during the 1st 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. Northern Trust Corp boosted its holdings in Packaging Co. of America by 2.4% during the 4th quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock worth $192,689,000 after acquiring an additional 27,974 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Packaging Co. of America by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after acquiring an additional 86,005 shares in the last quarter. Institutional investors and hedge funds 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.