Packaging Corporation of America (NYSE:PKG) Price Target Raised to $239.00

Packaging Corporation of America (NYSE:PKG) had its price objective boosted by Truist Financial from $237.00 to $239.00 in a research report report published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group lowered Packaging Corporation of America from a “buy” rating to a “hold” rating and cut their price target for the company from $245.00 to $205.00 in a research note on Monday. Wall Street Zen lowered Packaging Corporation of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. UBS Group started coverage on Packaging Corporation of America in a research note on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price target on the stock. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $180.00 price target (down previously from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $211.80.

Packaging Corporation of America Stock Down 0.1%

NYSE:PKG opened at $186.19 on Tuesday. Packaging Corporation of America has a twelve month low of $172.72 and a twelve month high of $250.82. The company has a market cap of $16.75 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84. The stock has a fifty day simple moving average of $189.20 and a 200-day simple moving average of $206.54. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55.

Packaging Corporation of America (NYSE:PKG) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Analysts anticipate that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.69%. Packaging Corporation of America’s dividend payout ratio is currently 52.30%.

Hedge Funds Weigh In On Packaging Corporation of America

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Packaging Corporation of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock valued at $2,571,821,000 after purchasing an additional 133,575 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Packaging Corporation of America by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,272,704 shares of the industrial products company’s stock valued at $648,061,000 after purchasing an additional 202,755 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Packaging Corporation of America by 46.5% in the first quarter. JPMorgan Chase & Co. now owns 3,038,859 shares of the industrial products company’s stock valued at $601,755,000 after purchasing an additional 964,085 shares during the last quarter. Geode Capital Management LLC grew its stake in Packaging Corporation of America by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock valued at $531,540,000 after purchasing an additional 29,427 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Packaging Corporation of America by 108.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,363,617 shares of the industrial products company’s stock valued at $468,045,000 after purchasing an additional 1,229,219 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

About Packaging Corporation of America

Packaging Corporation 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.