Packaging Co. of America (NYSE:PKG) Upgraded by Jefferies Financial Group to Buy Rating

Jefferies Financial Group upgraded shares of Packaging Co. of America (NYSE:PKG) from a hold rating to a buy rating in a research report released on Wednesday morning, MarketBeat reports. The firm currently has $280.00 target price on the industrial products company’s stock, up from their previous target price of $215.00.

PKG has been the subject of several other reports. Truist Financial reissued a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday, December 14th. Wells Fargo & Company raised their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Citigroup upped their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.33.

Packaging Co. of America Stock Down 0.3 %

Packaging Co. of America stock traded down $0.61 during midday trading on Wednesday, reaching $228.61. The stock had a trading volume of 128,291 shares, compared to its average volume of 602,576. The company has a fifty day moving average price of $234.70 and a two-hundred day moving average price of $210.02. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $20.53 billion, a P/E ratio of 26.64, a PEG ratio of 3.34 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities analysts expect that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.19%. Packaging Co. of America’s payout ratio is currently 58.28%.

Insider Activity at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction dated 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 owns 43,954 shares in the company, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,300 shares of company stock worth $8,064,152. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

A number of hedge funds and other institutional investors have recently bought and sold shares of PKG. Asset Dedication LLC raised its stake in shares of Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America in the third quarter worth about $32,000. Tortoise Investment Management LLC bought a new position in shares of Packaging Co. of America in the second quarter valued at approximately $33,000. Larson Financial Group LLC grew its stake in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in Packaging Co. of America during the second quarter valued at approximately $50,000. Institutional investors own 89.78% of the company’s stock.

About Packaging Co. of America

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.