Packaging Co. of America (NYSE:PKG) Price Target Increased to $187.00 by Analysts at Citigroup

Packaging Co. of America (NYSE:PKG) had its price objective raised by Citigroup from $181.00 to $187.00 in a report issued on Monday morning, Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company upgraded shares of Packaging Co. of America from an equal weight rating to an overweight rating and raised their target price for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Truist Financial raised their price target on shares of Packaging Co. of America from $191.00 to $208.00 and gave the stock a buy rating in a research note on Thursday, May 30th. Bank of America raised their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a buy rating in a research note on Monday, June 17th. StockNews.com raised shares of Packaging Co. of America from a hold rating to a buy rating in a research note on Tuesday, May 21st. Finally, BNP Paribas cut shares of Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 price target on the stock. in a research note on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $185.17.

Packaging Co. of America Stock Performance

Shares of PKG opened at $182.77 on Monday. The company has a 50-day simple moving average of $182.02 and a 200-day simple moving average of $177.27. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $16.41 billion, a PE ratio of 22.85, a P/E/G ratio of 4.86 and a beta of 0.77. Packaging Co. of America has a 52-week low of $132.70 and a 52-week high of $191.39.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm posted $2.20 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts predict that Packaging Co. of America will post 8.33 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 Monday, July 15th. Investors of record on Friday, June 14th will be given a $1.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.74%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insider Buying and Selling

In related news, Director Karen E. Gowland bought 300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the transaction, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. FIL Ltd raised its holdings in Packaging Co. of America by 2.6% in the fourth 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 period. Boston Partners raised its holdings in Packaging Co. of America by 49.3% in the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after buying an additional 477,487 shares during the period. Northern Trust Corp raised its holdings in Packaging Co. of America by 2.4% in the fourth quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock valued at $192,689,000 after buying an additional 27,974 shares during the period. Norges Bank purchased a new position in Packaging Co. of America in the fourth quarter valued at approximately $163,314,000. Finally, Bank of New York Mellon Corp raised its holdings in Packaging Co. of America by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 874,497 shares of the industrial products company’s stock valued at $165,962,000 after buying an additional 5,842 shares during the period. Hedge funds and other institutional investors 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.