UBS Group Increases Packaging Corporation of America (NYSE:PKG) Price Target to $210.00

Packaging Corporation of America (NYSE:PKG - Free Report) had its target price lifted by UBS Group from $200.00 to $210.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the industrial products company's stock.

PKG has been the topic of several other research reports. Wall Street Zen downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $180.00 price objective (down from $205.00) on shares of Packaging Corporation of America in a research report on Friday, May 9th. Truist Financial lifted their target price on Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Finally, Jefferies Financial Group cut Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price target for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Packaging Corporation of America currently has a consensus rating of "Hold" and a consensus target price of $217.80.

Packaging Corporation of America Stock Down 0.6%

NYSE:PKG traded down $1.34 during trading hours on Wednesday, reaching $205.90. 432,717 shares of the company traded hands, compared to its average volume of 747,594. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. The business's 50-day moving average price is $192.48 and its two-hundred day moving average price is $202.20. Packaging Corporation of America has a 1 year low of $172.72 and a 1 year high of $250.82. The stock has a market capitalization of $18.53 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.74 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its quarterly 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. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. Analysts predict that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

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

Institutional Investors Weigh In On Packaging Corporation of America

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of 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 worth $2,571,821,000 after acquiring an additional 133,575 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 worth $648,061,000 after purchasing an additional 202,755 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Packaging Corporation of America by 46.5% during the 1st 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 period. Geode Capital Management LLC grew its position in Packaging Corporation of America by 1.3% during 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 buying an additional 29,427 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Packaging Corporation of America by 108.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,363,617 shares of the industrial products company's stock worth $468,045,000 after purchasing an additional 1,229,219 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other 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.