Packaging Co. of America (NYSE:PKG) Upgraded by Wells Fargo & Company to “Overweight”

Wells Fargo & Company upgraded shares of Packaging Co. of America (NYSE:PKG) from an equal weight rating to an overweight rating in a report issued on Wednesday, Marketbeat Ratings reports. They currently have $191.00 target price on the industrial products company’s stock, up from their prior target price of $187.00.

A number of other research firms have also issued reports on PKG. StockNews.com lowered Packaging Co. of America from a buy rating to a hold rating in a research report on Friday, April 19th. Seaport Res Ptn downgraded Packaging Co. of America from a buy rating to a neutral rating in a research note on Monday, January 29th. Citigroup boosted their price target on shares of Packaging Co. of America from $172.00 to $183.00 and gave the company a neutral rating in a research report on Thursday, April 4th. BNP Paribas cut shares of 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. Finally, Truist Financial boosted their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a buy rating in a report on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of Hold and an average target price of $173.57.

Packaging Co. of America Trading Up 0.9 %

Shares of PKG opened at $172.85 on Wednesday. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27. The stock has a market cap of $15.51 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 4.17 and a beta of 0.78. The firm’s fifty day moving average is $181.92 and its two-hundred day moving average is $168.31. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. Packaging Co. of America’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 earnings per share. Research analysts forecast that Packaging Co. of America will post 8.2 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, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insider Buying and Selling

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the sale, the vice president now owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,041 shares of company stock valued at $6,799,177. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

A number of large investors have recently modified their holdings of PKG. Planned Solutions Inc. boosted its holdings in shares of Packaging Co. of America by 15.9% in the 1st quarter. Planned Solutions Inc. now owns 1,188 shares of the industrial products company’s stock valued at $225,000 after buying an additional 163 shares in the last quarter. Clear Creek Financial Management LLC purchased a new stake in Packaging Co. of America in the first quarter valued at $445,000. SYSTM Wealth Solutions LLC boosted its stake in Packaging Co. of America by 4.8% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,084 shares of the industrial products company’s stock valued at $396,000 after acquiring an additional 96 shares in the last quarter. Checchi Capital Advisers LLC purchased a new position in shares of Packaging Co. of America during the first quarter worth about $211,000. Finally, Lindbrook Capital LLC increased its position in shares of Packaging Co. of America by 19.5% during the first quarter. Lindbrook Capital LLC now owns 3,023 shares of the industrial products company’s stock worth $574,000 after purchasing an additional 493 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

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.