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

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

Several other research firms also recently issued reports on PKG. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Citigroup boosted their price objective 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. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Trading Down 3.2 %

PKG stock opened at $183.04 on Friday. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The stock has a market cap of $16.46 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company has a fifty day moving average price of $205.91 and a two-hundred day moving average price of $221.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 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%. Equities analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.73%. Packaging Co. of America’s dividend payout ratio is 55.99%.

Institutional Investors Weigh In On Packaging Co. of America

Several institutional investors and hedge funds have recently added to or reduced their stakes in PKG. Fortitude Family Office LLC raised its holdings in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America in the fourth quarter valued at about $44,000. Lazard Asset Management LLC raised its stake in 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 acquiring an additional 186 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth about $48,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $63,000. 89.78% of the stock is currently owned by institutional investors.

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.