Citigroup Cuts Packaging Corporation of America (NYSE:PKG) Price Target to $253.00

Packaging Corporation of America (NYSE:PKG) had its price objective cut by Citigroup from $254.00 to $253.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other research analysts have also issued reports on the stock. Weiss Ratings raised shares of Packaging Corporation of America from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 25th. Bank of America dropped their price target on shares of Packaging Corporation of America from $280.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, September 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $246.00 price target (up from $245.00) on shares of Packaging Corporation of America in a report on Thursday, July 9th. Truist Financial boosted their price objective on Packaging Corporation of America from $258.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Packaging Corporation of America from $312.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.00.

Packaging Corporation of America Stock Performance

PKG stock opened at $228.49 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.86 and a current ratio of 2.94. The stock has a market capitalization of $20.36 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 1.96 and a beta of 0.75. Packaging Corporation of America has a 1 year low of $191.50 and a 1 year high of $259.98. The stock’s fifty day moving average is $242.73 and its two-hundred day moving average is $228.44.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.49 billion. Packaging Corporation of America had a net margin of 7.25% and a return on equity of 18.94%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.48 earnings per share. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. On average, research analysts predict that Packaging Corporation of America will post 10.45 EPS for the current year.

Packaging Corporation of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be issued a $1.50 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $6.00 annualized dividend and a dividend yield of 2.6%. Packaging Corporation of America’s dividend payout ratio is 77.92%.

Insider Activity

In other Packaging Corporation of America news, VP Donald R. Shirley sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $250.71, for a total value of $3,008,520.00. Following the sale, the vice president directly owned 19,110 shares in the company, valued at approximately $4,791,068.10. The trade was a 38.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Thomas A. Hassfurther sold 12,531 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $250.00, for a total transaction of $3,132,750.00. Following the completion of the sale, the president owned 218,751 shares in the company, valued at approximately $54,687,750. This trade represents a 5.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 40,391 shares of company stock valued at $10,196,101 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Corporation of America

Large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Packaging Corporation of America during the second quarter worth approximately $1,837,506,000. JPMorgan Chase & Co. grew its position in Packaging Corporation of America by 7.5% in the fourth quarter. JPMorgan Chase & Co. now owns 3,316,670 shares of the industrial products company’s stock worth $683,997,000 after buying an additional 231,474 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Packaging Corporation of America in the second quarter valued at $748,095,000. Royal Bank of Canada increased its holdings in shares of Packaging Corporation of America by 25.2% in the first quarter. Royal Bank of Canada now owns 2,323,010 shares of the industrial products company’s stock valued at $492,990,000 after buying an additional 467,590 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Packaging Corporation of America by 29.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,309,412 shares of the industrial products company’s stock valued at $476,270,000 after acquiring an additional 521,352 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE: PKG) is a manufacturer of containerboard and corrugated packaging products in the United States. The company produces linerboard, corrugating medium and finished corrugated containers used to package and transport consumer, industrial, food and agricultural products.

PCA also manufactures specialty packaging products, including retail displays, protective packaging and custom-designed corrugated solutions. Through its Paper segment, the company produces and sells uncoated freesheet paper and related specialty papers for commercial printing, office use, converting and other applications.