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

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

Packaging Co. of America Trading Down 1.5 %

PKG opened at $194.30 on Friday. The stock has a market capitalization of $17.45 billion, a PE ratio of 21.76, a P/E/G ratio of 2.41 and a beta of 0.77. The firm’s fifty day moving average price is $214.03 and its 200 day moving average price is $222.24. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82.

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

Packaging Co. of America Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Hedge Funds Weigh In On Packaging Co. of America

Institutional investors have recently modified their holdings of the company. Larson Financial Group LLC grew its position in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Fortitude Family Office LLC grew its position in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after buying an additional 98 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter valued at about $44,000. Lazard Asset Management LLC grew its position in Packaging Co. of America by 1,033.3% in the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock valued at $45,000 after buying an additional 186 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter valued at about $48,000. Institutional investors own 89.78% of the company’s stock.

About Packaging Co. 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.