Packaging Corporation of America (NYSE:PKG) Receives $236.17 Consensus Target Price from Analysts

Shares of Packaging Corporation of America (NYSE:PKG) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $236.1667.

Several equities research analysts have weighed in on the company. Zacks Research raised Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wells Fargo & Company raised Packaging Corporation of America from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $222.00 to $233.00 in a report on Tuesday, January 6th. UBS Group boosted their price target on Packaging Corporation of America from $230.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Packaging Corporation of America in a research note on Monday, December 29th. Finally, Truist Financial lifted their target price on shares of Packaging Corporation of America from $263.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, January 6th.

Hedge Funds Weigh In On Packaging Corporation of America

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in Packaging Corporation of America in the 2nd quarter worth about $225,478,000. Millennium Management LLC increased its position in Packaging Corporation of America by 223.6% during the third quarter. Millennium Management LLC now owns 1,516,562 shares of the industrial products company’s stock worth $330,504,000 after purchasing an additional 1,047,902 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Packaging Corporation of America by 119.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,863,359 shares of the industrial products company’s stock valued at $406,082,000 after buying an additional 1,015,894 shares during the period. American Century Companies Inc. raised its position in Packaging Corporation of America by 70.6% in the second quarter. American Century Companies Inc. now owns 1,860,113 shares of the industrial products company’s stock valued at $350,539,000 after purchasing an additional 769,806 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Packaging Corporation of America by 13.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,085,196 shares of the industrial products company’s stock valued at $672,357,000 after buying an additional 370,573 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Corporation of America Stock Down 1.5%

PKG stock opened at $221.97 on Tuesday. The company has a market capitalization of $19.97 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88. Packaging Corporation of America has a 12 month low of $172.71 and a 12 month high of $241.96. The firm’s fifty day simple moving average is $207.28 and its 200-day simple moving average is $206.54. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.16 and a quick ratio of 2.00.

Packaging Corporation of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, December 15th were given a $1.25 dividend. The ex-dividend date was Monday, December 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.3%. Packaging Corporation of America’s dividend payout ratio is 50.56%.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE: PKG) is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.

Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.