Packaging Co. of America (NYSE:PKG) Receives $233.00 Average Price Target from Brokerages

Packaging Co. of America (NYSE:PKG) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $233.00.

A number of equities analysts have commented on PKG shares. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Citigroup boosted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Truist Financial restated a “buy” rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Wells Fargo & Company cut their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th.

Packaging Co. of America Price Performance

PKG stock opened at $209.39 on Friday. The firm has a market cap of $18.80 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The stock has a 50-day simple moving average of $221.83 and a 200-day simple moving average of $222.91.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, equities analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.39%. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

Hedge Funds Weigh In On Packaging Co. of America

Several large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC raised its stake in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC bought a new position in Packaging Co. of America in the fourth quarter worth about $44,000. Lazard Asset Management LLC boosted its stake in Packaging Co. of America by 1,033.3% in the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 186 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $48,000. 89.78% of the stock is currently owned by institutional investors.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.