Packaging Corporation of America (NYSE:PKG) Price Target Raised to $200.00 at Wells Fargo & Company

Packaging Corporation of America (NYSE:PKG - Free Report) had its price target boosted by Wells Fargo & Company from $180.00 to $200.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company's stock.

A number of other equities analysts also recently issued reports on the company. Truist Financial raised their price target on Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. UBS Group raised their target price on Packaging Corporation of America from $200.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday. Wall Street Zen cut Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Jefferies Financial Group cut Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their target price for the stock from $245.00 to $205.00 in a report on Monday, June 16th. Five investment 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. According to data from MarketBeat.com, Packaging Corporation of America presently has a consensus rating of "Hold" and an average price target of $217.80.

Packaging Corporation of America Stock Down 0.6%

PKG traded down $1.34 during trading on Thursday, hitting $205.90. 432,717 shares of the company's stock traded hands, compared to its average volume of 748,707. The company's 50 day simple moving average is $192.48 and its two-hundred day simple moving average is $202.02. 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 has a 12-month low of $172.72 and a 12-month high of $250.82. The stock has a market capitalization of $18.53 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.72 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.12 billion. Analysts predict that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.43%. Packaging Corporation of America's dividend payout ratio is presently 52.30%.

Institutional Investors Weigh In On Packaging Corporation of America

A number of institutional investors and hedge funds have recently bought and sold shares of PKG. Clearstead Trust LLC increased its holdings in shares of Packaging Corporation of America by 118.6% in the first quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock worth $26,000 after purchasing an additional 70 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Packaging Corporation of America by 72.2% in the second quarter. Bruce G. Allen Investments LLC now owns 136 shares of the industrial products company's stock worth $26,000 after purchasing an additional 57 shares during the last quarter. TCTC Holdings LLC increased its holdings in shares of Packaging Corporation of America by 86.4% in the first quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company's stock worth $30,000 after purchasing an additional 70 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Packaging Corporation of America in the first quarter worth about $39,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Packaging Corporation of America by 40.4% in the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company's stock worth $39,000 after purchasing an additional 57 shares during the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Corporation of America Company Profile

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.