Packaging Corporation of America (NYSE:PKG) Price Target Raised to $200.00

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

Other analysts also recently issued reports about the company. Wall Street Zen downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Jefferies Financial Group downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price target for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Truist Financial lifted their price target on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, UBS Group lifted their price target on Packaging Corporation of America from $200.00 to $210.00 and gave the company a "neutral" rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $217.80.

Packaging Corporation of America Stock Performance

Shares of PKG stock traded down $1.34 during midday trading on Thursday, hitting $205.90. The company had a trading volume of 432,717 shares, compared to its average volume of 748,707. The company's 50 day simple moving average is $192.48 and its 200 day simple moving average is $201.82. Packaging Corporation of America has a 52-week low of $172.72 and a 52-week high of $250.82. The stock has a market cap of $18.53 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.72 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share 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 company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Research analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Announces Dividend

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

Hedge Funds Weigh In On Packaging Corporation of America

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC raised its holdings in Packaging Corporation of America by 39.0% during the first quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company's stock worth $40,000 after purchasing an additional 57 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in Packaging Corporation of America by 72.2% during 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. Geneos Wealth Management Inc. raised its holdings in Packaging Corporation of America by 40.4% during 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. Cary Street Partners Financial LLC raised its holdings in shares of Packaging Corporation of America by 0.7% in the first quarter. Cary Street Partners Financial LLC now owns 8,759 shares of the industrial products company's stock worth $1,735,000 after acquiring an additional 59 shares during the last quarter. Finally, Horizon Investments LLC raised its holdings in shares of Packaging Corporation of America by 4.8% in the first quarter. Horizon Investments LLC now owns 1,291 shares of the industrial products company's stock worth $256,000 after acquiring an additional 59 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

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.