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 released on Wednesday.

Several other brokerages also recently issued reports on PKG. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Citigroup raised their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Truist Financial boosted their price target on shares of Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $238.67.

Packaging Co. of America Price Performance

PKG stock opened at $215.17 on Wednesday. The firm has a 50-day moving average of $235.31 and a two-hundred day moving average of $220.05. The firm has a market capitalization of $19.32 billion, a PE ratio of 25.08, a P/E/G ratio of 2.36 and a beta of 0.79. 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 has a one year low of $159.57 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. On average, analysts forecast that Packaging Co. of America will post 9.08 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.32%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was 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 of the company’s stock, valued at $3,777,145. This represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Packaging Co. of America

Institutional investors and hedge funds have recently bought and sold shares of the stock. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America in the 3rd quarter worth $32,000. Larson Financial Group LLC increased 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 valued at $35,000 after acquiring an additional 115 shares during the period. Fortitude Family Office LLC raised its holdings 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 acquiring an additional 98 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $48,000. Finally, Assetmark Inc. grew its holdings in shares of Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Company Profile

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.