Packaging Co. of America (NYSE:PKG) Given New $235.00 Price Target at Wells Fargo & Company

by · The Cerbat Gem

Packaging Co. of America (NYSE:PKG – Free Report) had its price target boosted by Wells Fargo & Company from $215.00 to $235.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the stock. Bank of America upped their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a buy rating in a report on Monday, June 17th. StockNews.com cut shares of Packaging Co. of America from a buy rating to a hold rating in a research report on Saturday, September 28th. Truist Financial boosted their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the stock a buy rating in a report on Thursday, July 25th. Finally, Citigroup increased their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a neutral rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $199.50.

View Our Latest Report on Packaging Co. of America

Packaging Co. of America Stock Performance

PKG opened at $216.26 on Monday. The company has a fifty day moving average price of $206.14 and a two-hundred day moving average price of $191.64. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $217.94. The company has a market cap of $19.42 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 4.18 and a beta of 0.77. 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 – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company posted $2.31 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Analysts predict that Packaging Co. of America will post 8.73 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.31%. Packaging Co. of America’s payout ratio is presently 62.50%.

Insider Activity

In related news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Packaging Co. of America

A number of large investors have recently bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in Packaging Co. of America in the 1st quarter valued at about $25,000. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America during the 3rd quarter valued at approximately $32,000. Asset Dedication LLC boosted its holdings in Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after buying an additional 112 shares during the period. Neo Ivy Capital Management purchased a new position in Packaging Co. of America in the 4th quarter valued at approximately $28,000. Finally, Tortoise Investment Management LLC bought a new stake in Packaging Co. of America during the 2nd quarter valued at $33,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

About Packaging Co. of America

(Get Free Report)

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.

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