Shares of Packaging Corp Of America (NYSE:PKG) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are currently covering the stock. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $82.22.
A number of analysts have issued reports on PKG shares. Zacks Investment Research downgraded Packaging Corp Of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Argus reissued a “buy” rating and issued a $84.00 target price (up from $79.00) on shares of Packaging Corp Of America in a report on Friday, September 2nd. Deutsche Bank AG raised Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Friday, September 23rd. Credit Agricole SA boosted their target price on Packaging Corp Of America from $83.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Finally, Jefferies Group reissued a “buy” rating on shares of Packaging Corp Of America in a report on Tuesday, August 23rd.
Packaging Corp Of America (NYSE:PKG) opened at 81.09 on Thursday. The firm has a market cap of $7.57 billion, a PE ratio of 17.23 and a beta of 1.76. Packaging Corp Of America has a 12-month low of $44.32 and a 12-month high of $82.77. The company has a 50-day moving average price of $79.43 and a 200-day moving average price of $70.15.
Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.07. The company earned $1.42 billion during the quarter, compared to the consensus estimate of $1.46 billion. Packaging Corp Of America had a return on equity of 27.74% and a net margin of 7.95%. Packaging Corp Of America’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.18 EPS. On average, equities analysts predict that Packaging Corp Of America will post $4.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.63 per share. This is a boost from Packaging Corp Of America’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $2.52 annualized dividend and a yield of 3.11%. Packaging Corp Of America’s payout ratio is presently 53.62%.
In other Packaging Corp Of America news, SVP Kent A. Pflederer sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $74.30, for a total transaction of $81,730.00. Following the transaction, the senior vice president now owns 34,623 shares in the company, valued at approximately $2,572,488.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PKG. NN Investment Partners Holdings N.V. purchased a new stake in Packaging Corp Of America during the first quarter worth $4,311,000. JPMorgan Chase & Co. boosted its stake in Packaging Corp Of America by 184.2% in the first quarter. JPMorgan Chase & Co. now owns 254,111 shares of the company’s stock worth $15,349,000 after buying an additional 164,693 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Packaging Corp Of America by 82.2% in the first quarter. BlackRock Fund Advisors now owns 6,590,596 shares of the company’s stock worth $398,072,000 after buying an additional 2,972,569 shares in the last quarter. BlackRock Group LTD boosted its stake in Packaging Corp Of America by 33.2% in the first quarter. BlackRock Group LTD now owns 596,776 shares of the company’s stock worth $36,045,000 after buying an additional 148,668 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Packaging Corp Of America by 21.8% in the first quarter. BlackRock Inc. now owns 136,266 shares of the company’s stock worth $8,230,000 after buying an additional 24,344 shares in the last quarter. Institutional investors own 86.87% of the company’s stock.
About Packaging Corp Of America
Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants.
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