Packaging Co. of America (NYSE:PKG) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Packaging Co. of America (NYSE:PKG) from a buy rating to a hold rating in a report published on Wednesday.

PKG has been the subject of several other reports. Truist Financial reissued a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Citigroup upped their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Packaging Co. of America presently has an average rating of “Hold” and an average target price of $221.60.

Packaging Co. of America Price Performance

PKG stock opened at $246.39 on Wednesday. Packaging Co. of America has a one year low of $153.58 and a one year high of $248.62. The firm has a 50-day moving average of $224.82 and a two-hundred day moving average of $202.44. The firm has a market capitalization of $22.13 billion, a PE ratio of 28.72, a P/E/G ratio of 3.44 and a beta of 0.76. 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 posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the business posted $2.05 EPS. The company’s revenue was up 14.9% on a year-over-year basis. On average, analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is presently 58.28%.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. This represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock worth $7,500,905 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Packaging Co. of America

Several large investors have recently modified their holdings of the company. Asset Dedication LLC lifted its position in Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Packaging Co. of America in the third quarter valued at approximately $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America in the second quarter valued at approximately $33,000. Larson Financial Group LLC grew its stake in shares of Packaging Co. of America by 234.7% in 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. Finally, Strategic Financial Concepts LLC bought a new position in Packaging Co. of America during the second quarter worth $50,000. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.