Wells Fargo & Company Boosts Packaging Co. of America (NYSE:PKG) Price Target to $215.00

Packaging Co. of America (NYSE:PKG) had its price objective upped by Wells Fargo & Company from $194.00 to $215.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

PKG has been the subject of a number of other reports. Bank of America boosted 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 research note on Monday, June 17th. Citigroup boosted their price objective on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a neutral rating in a report on Monday, July 8th. BNP Paribas downgraded Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. StockNews.com upgraded Packaging Co. of America from a hold rating to a buy rating in a research report on Wednesday. Finally, Truist Financial raised their target price on Packaging Co. of America from $215.00 to $219.00 and gave the stock a buy rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $190.50.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $199.00 on Thursday. Packaging Co. of America has a one year low of $143.82 and a one year high of $199.42. The business’s 50-day moving average price is $184.62 and its two-hundred day moving average price is $179.43. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The company has a market capitalization of $17.87 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 5.26 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts anticipate that Packaging Co. of America will post 8.62 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insiders Place Their Bets

In other news, Director Karen E. Gowland bought 300 shares of the stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the acquisition, the director now owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PKG. Register Financial Advisors LLC bought a new position in Packaging Co. of America in the 1st quarter valued at $25,000. Neo Ivy Capital Management acquired a new stake in Packaging Co. of America in the 4th quarter valued at about $28,000. First Horizon Advisors Inc. raised its stake in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares during the last quarter. Gables Capital Management Inc. acquired a new position in shares of Packaging Co. of America during the fourth quarter worth approximately $31,000. Finally, Headlands Technologies LLC bought a new stake in shares of Packaging Co. of America during the first quarter valued at approximately $43,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Company Profile

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.