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 report sent to investors on Saturday morning.

Several other research analysts also recently issued reports on PKG. Truist Financial upped their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the company a buy rating in a research note on Thursday, July 25th. Citigroup upped their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a neutral rating in a research note on Monday, July 8th. Bank of America upped their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the company a buy rating in a research note on Monday, June 17th. Finally, Wells Fargo & Company upped their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the company an overweight rating in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America presently has an average rating of Hold and a consensus price target of $190.50.

Packaging Co. of America Stock Down 0.0 %

PKG stock opened at $215.35 on Friday. The stock has a market capitalization of $19.34 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 4.23 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 12 month low of $143.82 and a 12 month high of $217.69. The firm has a 50-day moving average price of $203.76 and a 200-day moving average price of $190.25.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Packaging Co. of America will post 8.72 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

A number of institutional investors and hedge funds have recently modified their holdings of PKG. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America during the 1st quarter worth approximately $25,000. Neo Ivy Capital Management bought a new position in shares of Packaging Co. of America in the 4th quarter worth $28,000. Asset Dedication LLC lifted its holdings in shares of Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares in the last quarter. Tortoise Investment Management LLC bought a new position in shares of Packaging Co. of America in the 2nd quarter worth $33,000. Finally, Headlands Technologies LLC bought a new position in shares of Packaging Co. of America in the 1st quarter worth $43,000. 89.78% of the stock is currently 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.