Packaging Corporation of America (NYSE:PKG) Given New $241.00 Price Target at Citigroup

Packaging Corporation of America (NYSE:PKG) had its target price upped by Citigroup from $229.00 to $241.00 in a research note released on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

A number of other brokerages also recently issued reports on PKG. JPMorgan Chase & Co. increased their target price on Packaging Corporation of America from $246.00 to $269.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group upgraded Packaging Corporation of America from a “neutral” rating to a “buy” rating and lifted their price target for the company from $232.00 to $248.00 in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft raised Packaging Corporation of America from a “hold” rating to a “buy” rating and upped their price objective for the stock from $225.00 to $256.00 in a report on Monday, May 4th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $246.00 price objective (up from $245.00) on shares of Packaging Corporation of America in a research report on Thursday. Finally, Truist Financial reissued a “buy” rating and issued a $258.00 target price (down from $260.00) on shares of Packaging Corporation of America in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Packaging Corporation of America Stock Performance

Shares of PKG opened at $224.90 on Thursday. The company has a current ratio of 3.07, a quick ratio of 1.88 and a debt-to-equity ratio of 0.87. The firm has a market cap of $20.04 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.10 and a beta of 0.80. The company’s 50 day simple moving average is $224.90 and its 200-day simple moving average is $220.97. Packaging Corporation of America has a 12-month low of $189.03 and a 12-month high of $249.51.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.23. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Packaging Corporation of America had a return on equity of 19.27% and a net margin of 8.04%.The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. Packaging Corporation of America has set its Q2 2026 guidance at 2.330-2.330 EPS. As a group, equities analysts predict that Packaging Corporation of America will post 10.45 EPS for the current year.

Packaging Corporation of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. This is an increase from Packaging Corporation of America’s previous quarterly dividend of $1.25. Packaging Corporation of America’s dividend payout ratio is 72.99%.

Insider Transactions at Packaging Corporation of America

In other news, CEO Mark W. Kowlzan sold 9,266 shares of Packaging Corporation of America stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $217.08, for a total value of $2,011,463.28. Following the completion of the sale, the chief executive officer owned 473,610 shares of the company’s stock, valued at $102,811,258.80. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Benchmark Financial Wealth Advisors LLC raised its holdings in shares of Packaging Corporation of America by 2.1% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 2,345 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 48 shares during the period. River Street Advisors LLC raised its holdings in Packaging Corporation of America by 1.0% in the fourth quarter. River Street Advisors LLC now owns 5,362 shares of the industrial products company’s stock valued at $1,106,000 after buying an additional 51 shares during the period. Smartleaf Asset Management LLC lifted its position in Packaging Corporation of America by 5.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,045 shares of the industrial products company’s stock valued at $218,000 after buying an additional 52 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Packaging Corporation of America by 2.9% during the fourth quarter. TD Private Client Wealth LLC now owns 1,929 shares of the industrial products company’s stock worth $398,000 after buying an additional 54 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake 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 buying an additional 57 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

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.