Investment Analysts’ Recent Ratings Changes for Packaging Co. of America (PKG)

Packaging Co. of America (NYSE: PKG) recently received a number of ratings updates from brokerages and research firms:

• 11/12/2024 – Packaging Co. of America was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/1/2024 – Packaging Co. of America was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/24/2024 – Packaging Co. of America had its price target raised by analysts at Wells Fargo & Company from $235.00 to $253.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – Packaging Co. of America had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $252.00 price target on the stock, up previously from $242.00.
• 10/22/2024 – Packaging Co. of America was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/15/2024 – Packaging Co. of America had its price target raised by analysts at Truist Financial Co. from $219.00 to $242.00. They now have a “buy” rating on the stock.
• 10/7/2024 – Packaging Co. of America had its price target raised by analysts at Wells Fargo & Company from $215.00 to $235.00. They now have an “overweight” rating on the stock.
• 10/2/2024 – Packaging Co. of America had its price target raised by analysts at Citigroup Inc. from $199.00 to $221.00. They now have a “neutral” rating on the stock.
• 9/28/2024 – Packaging Co. of America was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/19/2024 – Packaging Co. of America was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Packaging Co. of America Trading Down 0.6 %

PKG traded down $1.47 during trading on Wednesday, hitting $238.34. 520,526 shares of the stock traded hands, compared to its average volume of 601,133. The firm has a market capitalization of $21.41 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 3.37 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a 50-day moving average of $219.25 and a 200 day moving average of $199.00. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $245.00.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company posted $2.05 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.10%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PKG. Envestnet Portfolio Solutions Inc. increased its stake in shares of Packaging Co. of America by 11.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,672 shares of the industrial products company’s stock worth $1,266,000 after acquiring an additional 668 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Packaging Co. of America by 295.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 5,095 shares of the industrial products company’s stock worth $967,000 after acquiring an additional 3,808 shares in the last quarter. Atomi Financial Group Inc. increased its stake in shares of Packaging Co. of America by 8.3% in the 1st quarter. Atomi Financial Group Inc. now owns 1,671 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 128 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Packaging Co. of America in the 1st quarter worth about $43,000. Finally, Avantax Advisory Services Inc. increased its stake in shares of Packaging Co. of America by 14.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 10,040 shares of the industrial products company’s stock worth $1,905,000 after acquiring an additional 1,231 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

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.