Packaging Co. of America (NYSE:PKG) Earns Hold Rating from Analysts at Truist Securities

Truist Securities began coverage on shares of Packaging Co. of America (NYSE:PKG) in a report issued on Wednesday morning, Price Targets.com reports. The brokerage issued a hold rating and a $131.00 target price on the industrial products company’s stock.

A number of other research firms also recently issued reports on PKG. UBS Group lifted their target price on Packaging Co. of America from $115.00 to $125.00 and gave the company a sell rating in a research report on Tuesday, September 28th. Wells Fargo & Company lowered their target price on Packaging Co. of America from $155.00 to $145.00 and set an equal weight rating on the stock in a research report on Friday, October 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Packaging Co. of America presently has a consensus rating of Hold and an average price target of $135.91.

PKG opened at $137.24 on Wednesday. The business’s 50-day moving average price is $145.14 and its two-hundred day moving average price is $142.85. Packaging Co. of America has a 1 year low of $110.87 and a 1 year high of $156.54. The company has a market capitalization of $13.04 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 3.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.63 and a quick ratio of 2.61.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Sunday, July 25th. The industrial products company reported $2.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.39. Packaging Co. of America had a return on equity of 19.69% and a net margin of 8.97%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the business posted $1.38 EPS. Sell-side analysts anticipate that Packaging Co. of America will post 8.5 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Tuesday, September 14th. Packaging Co. of America’s payout ratio is currently 69.20%.

In other news, SVP Donald R. Shirley sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $144.51, for a total transaction of $361,275.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Charles J. Carter sold 14,138 shares of the business’s stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $151.52, for a total value of $2,142,189.76. Following the sale, the senior vice president now owns 23,231 shares of the company’s stock, valued at approximately $3,519,961.12. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Several large investors have recently modified their holdings of PKG. Millennium Management LLC boosted its holdings in shares of Packaging Co. of America by 275.0% during the second quarter. Millennium Management LLC now owns 1,284,756 shares of the industrial products company’s stock worth $173,982,000 after acquiring an additional 942,126 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Packaging Co. of America by 20.2% during the second quarter. JPMorgan Chase & Co. now owns 3,974,088 shares of the industrial products company’s stock worth $538,172,000 after acquiring an additional 667,673 shares during the period. FMR LLC boosted its stake in shares of Packaging Co. of America by 152.6% in the second quarter. FMR LLC now owns 881,823 shares of the industrial products company’s stock valued at $119,416,000 after buying an additional 532,766 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Packaging Co. of America by 11,680.3% in the second quarter. Macquarie Group Ltd. now owns 393,581 shares of the industrial products company’s stock valued at $53,299,000 after buying an additional 390,240 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Packaging Co. of America by 17.9% in the first quarter. Nuveen Asset Management LLC now owns 1,509,551 shares of the industrial products company’s stock valued at $203,005,000 after buying an additional 229,487 shares during the period. Institutional investors own 88.31% of the company’s stock.

About Packaging Co. of America

Packaging Corp. of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.

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

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