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

StockNews.com lowered shares of Packaging Co. of America (NYSE:PKG) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. 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 report on Thursday, January 30th. 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 report on Monday, January 6th. 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 report on Wednesday, December 18th. Finally, Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $194.30 on Friday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $214.03 and a two-hundred day moving average price of $222.24. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The company has a market capitalization of $17.45 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released 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 return on equity of 19.67% and a net margin of 9.60%. As a group, research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

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

Institutional Investors Weigh In On Packaging Co. of America

Several institutional investors have recently bought and sold shares of PKG. Larson Financial Group LLC grew its stake in 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 buying an additional 115 shares during the period. Fortitude Family Office LLC lifted its position in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter worth $44,000. Lazard Asset Management LLC lifted its position in shares of Packaging Co. of America by 1,033.3% during the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 186 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter worth $48,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

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.