Packaging Co. of America (NYSE:PKG) Given Consensus Rating of “Reduce” by Analysts

Packaging Co. of America (NYSE:PKG – Get Rating) has received an average recommendation of “Hold” from the ten analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $127.29.

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Packaging Co. of America from $135.00 to $126.00 in a report on Wednesday, April 26th. VNET Group reiterated a “maintains” rating on shares of Packaging Co. of America in a research note on Wednesday, April 26th. Bank of America lifted their price objective on shares of Packaging Co. of America from $149.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, April 20th. Truist Financial increased their price objective on Packaging Co. of America from $138.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. Finally, StockNews.com initiated coverage on Packaging Co. of America in a research report on Thursday, May 18th. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Packaging Co. of America

A number of hedge funds have recently made changes to their positions in the stock. Toroso Investments LLC lifted its stake in Packaging Co. of America by 8.6% during the 1st quarter. Toroso Investments LLC now owns 25,729 shares of the industrial products company’s stock valued at $3,572,000 after acquiring an additional 2,041 shares in the last quarter. Centaurus Financial Inc. purchased a new position in Packaging Co. of America during the first quarter worth about $104,000. B. Riley Wealth Advisors Inc. grew its stake in Packaging Co. of America by 7.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,341 shares of the industrial products company’s stock worth $468,000 after buying an additional 218 shares in the last quarter. Advisory Services Network LLC grew its stake in Packaging Co. of America by 4.2% in the 1st quarter. Advisory Services Network LLC now owns 2,301 shares of the industrial products company’s stock worth $319,000 after buying an additional 92 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Packaging Co. of America by 7.3% in the 1st quarter. Rockefeller Capital Management L.P. now owns 63,750 shares of the industrial products company’s stock worth $8,850,000 after purchasing an additional 4,321 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $127.33 on Friday. Packaging Co. of America has a 52 week low of $110.56 and a 52 week high of $162.93. The business has a 50-day simple moving average of $135.46 and a 200 day simple moving average of $134.53. The company has a quick ratio of 1.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.66. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 3.15 and a beta of 0.87.

Packaging Co. of America (NYSE:PKG – Get Rating) last issued its earnings results on Tuesday, April 25th. The industrial products company reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.07). The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Packaging Co. of America had a net margin of 11.61% and a return on equity of 25.59%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.72 earnings per share. On average, research analysts forecast that Packaging Co. of America will post 8.12 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Wednesday, June 14th. Packaging Co. of America’s dividend payout ratio is currently 47.98%.

Packaging Co. of America Company Profile

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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.