Packaging Corporation of America (PKG) – What Are Investment Firms Thinking About This Stock?

Packaging Corporation of America (NYSE:PKG) has received an average recommendation of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $275.43.

PKG has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $294.00 price target (up from $280.00) on shares of Packaging Corporation of America in a research note on Friday. UBS Group lowered their price objective on shares of Packaging Corporation of America from $292.00 to $289.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Citigroup upped their price objective on Packaging Corporation of America from $253.00 to $262.00 and gave the stock a “neutral” rating in a report on Monday. Bank of America cut their target price on Packaging Corporation of America from $280.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, September 11th. Finally, JPMorgan Chase & Co. increased their target price on Packaging Corporation of America from $320.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday.

Insider Transactions at Packaging Corporation of America

In other news, VP Donald Shirley sold 12,000 shares of Packaging Corporation of America stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $250.71, for a total value of $3,008,520.00. Following the transaction, the vice president directly owned 19,110 shares of the company’s stock, valued at $4,791,068.10. The trade was a 38.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Thomas Hassfurther sold 12,531 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $250.00, for a total value of $3,132,750.00. Following the sale, the president owned 218,751 shares of the company’s stock, valued at $54,687,750. The trade was a 5.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 40,391 shares of company stock worth $10,196,101. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Corporation of America

Several institutional investors have recently bought and sold shares of PKG. BlackRock Inc. acquired a new position in shares of Packaging Corporation of America during the 2nd quarter valued at $1,837,506,000. Bank of New York Mellon Corp purchased a new stake in Packaging Corporation of America during the 2nd quarter worth $748,095,000. Royal Bank of Canada increased its holdings in Packaging Corporation of America by 25.2% in the 1st quarter. Royal Bank of Canada now owns 2,323,010 shares of the industrial products company’s stock valued at $492,990,000 after purchasing an additional 467,590 shares in the last quarter. Bank of America Corp DE acquired a new stake in Packaging Corporation of America in the 2nd quarter valued at $379,568,000. Finally, Atlas FRM LLC acquired a new stake in Packaging Corporation of America in the 2nd quarter valued at $365,164,100. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Corporation of America Stock Performance

NYSE PKG opened at $253.99 on Thursday. The business’s 50-day moving average price is $237.34 and its 200 day moving average price is $228.68. Packaging Corporation of America has a twelve month low of $191.50 and a twelve month high of $259.98. The company has a market capitalization of $22.63 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 1.98 and a beta of 0.75. The company has a current ratio of 2.94, a quick ratio of 1.86 and a debt-to-equity ratio of 0.85.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.11. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.61 billion. Packaging Corporation of America had a return on equity of 19.63% and a net margin of 7.40%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $2.73 EPS. On average, research analysts predict that Packaging Corporation of America will post 10.48 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 15th. Packaging Corporation of America’s dividend payout ratio (DPR) is 73.89%.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE:PKG) is a manufacturer of corrugated packaging and containerboard products serving businesses primarily in the United States. Its products include shipping boxes, retail packaging, displays, protective packaging and specialty corrugated solutions used to transport and present a broad range of consumer and industrial goods.

The company also produces uncoated freesheet paper and related paper products for commercial printing, office use, publishing, converting and other applications.