StockNews.com Downgrades Packaging Co. of America (NYSE:PKG) to Hold

StockNews.com cut shares of Packaging Co. of America (NYSE:PKG) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Several other analysts also recently commented on the company. Citigroup lifted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Wells Fargo & Company reduced their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Truist Financial reiterated a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Price Performance

PKG opened at $194.30 on Friday. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77. The stock has a fifty day moving average price of $214.03 and a 200 day moving average price of $222.47. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC boosted its holdings in Packaging Co. of America by 17.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 2,946 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $293,000. AlphaQuest LLC boosted its stake in shares of Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after purchasing an additional 1,954 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $6,966,000. Finally, GAMMA Investing LLC boosted its stake in Packaging Co. of America by 24.2% during the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after acquiring an additional 473 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. 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.