Goldman Sachs Group Inc. assumed coverage on shares of Packaging Corp. of America (NYSE:PKG) in a research report report published on Thursday morning. The brokerage issued a sell rating and a $77.00 price objective on the stock.

Analyst Recommendations for Packaging Corp. of America (NYSE:PKG)

PKG has been the subject of a number of other research reports. Credit Agricole SA increased their target price on Packaging Corp. of America from $83.00 to $95.00 and gave the company a buy rating in a research note on Tuesday, September 6th. Jefferies Group reiterated a buy rating on shares of Packaging Corp. of America in a research note on Tuesday, August 23rd. Zacks Investment Research lowered Packaging Corp. of America from a hold rating to a sell rating in a research note on Monday, July 4th. Deutsche Bank AG raised their price objective on Packaging Corp. of America from $71.00 to $73.00 and gave the company a buy rating in a research note on Thursday, July 7th. Finally, BMO Capital Markets restated a buy rating on shares of Packaging Corp. of America in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $78.46.

Packaging Corp. of America (NYSE:PKG) traded up 1.904% on Thursday, hitting $82.175. The stock had a trading volume of 195,290 shares. The company’s 50 day moving average price is $78.28 and its 200-day moving average price is $68.61. Packaging Corp. of America has a 12-month low of $44.32 and a 12-month high of $82.44. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 17.458 and a beta of 1.71.

Packaging Corp. of America (NYSE:PKG) last posted its earnings results on Thursday, July 21st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Packaging Corp. of America had a return on equity of 27.74% and a net margin of 7.95%. The business earned $1.42 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Packaging Corp. of America will post $4.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be issued a $0.63 dividend. This is an increase from Packaging Corp. of America’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, September 13th. This represents a $2.52 annualized dividend and a dividend yield of 3.13%. Packaging Corp. of America’s dividend payout ratio (DPR) is 53.62%.

In related news, SVP Kent A. Pflederer sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $74.30, for a total value of $81,730.00. Following the sale, the senior vice president now owns 34,623 shares of the company’s stock, valued at approximately $2,572,488.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in PKG. Norges Bank bought a new stake in shares of Packaging Corp. of America during the fourth quarter valued at about $57,976,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Packaging Corp. of America by 10.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,404 shares of the company’s stock valued at $1,836,000 after buying an additional 2,776 shares during the period. Boston Advisors LLC increased its stake in shares of Packaging Corp. of America by 20.3% in the first quarter. Boston Advisors LLC now owns 25,615 shares of the company’s stock valued at $1,547,000 after buying an additional 4,325 shares during the period. IFP Advisors Inc increased its stake in shares of Packaging Corp. of America by 10.6% in the first quarter. IFP Advisors Inc now owns 2,741 shares of the company’s stock valued at $166,000 after buying an additional 263 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Packaging Corp. of America by 34.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 59,983 shares of the company’s stock valued at $3,623,000 after buying an additional 15,288 shares during the period. 86.87% of the stock is currently owned by institutional investors and hedge funds.

About Packaging Corp. of America

Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants.

5 Day Chart for NYSE:PKG

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