Packaging Co. of America (NYSE:PKG) Stock Price Down 3%

Packaging Co. of America (NYSE:PKG - Get Free Report) traded down 3% on Thursday . The stock traded as low as $180.94 and last traded at $180.97. 41,006 shares changed hands during trading, a decline of 93% from the average session volume of 625,309 shares. The stock had previously closed at $186.61.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BNP Paribas lowered Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 target price on the stock. in a research report on Friday, April 12th. Citigroup cut their target price on Packaging Co. of America from $183.00 to $181.00 and set a "neutral" rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company raised Packaging Co. of America from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. Bank of America raised their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 17th. Finally, Truist Financial raised their target price on Packaging Co. of America from $191.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $176.29.

Packaging Co. of America Stock Performance

The firm has a 50-day simple moving average of $180.97 and a 200 day simple moving average of $176.16. The company has a market cap of $16.45 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 5.07 and a beta of 0.78. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the business posted $2.20 EPS. The company's revenue was up .2% on a year-over-year basis. On average, sell-side analysts predict that Packaging Co. of America will post 8.33 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.73%. Packaging Co. of America's dividend payout ratio (DPR) is presently 62.50%.

Insider Activity at Packaging Co. of America

In other news, Director Karen E. Gowland acquired 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now owns 916 shares in the company, valued at approximately $166,766.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Packaging Co. of America

Several hedge funds and other institutional investors have recently bought and sold shares of PKG. LPL Financial LLC raised its holdings in shares of Packaging Co. of America by 11.8% in the third quarter. LPL Financial LLC now owns 84,139 shares of the industrial products company's stock worth $12,920,000 after acquiring an additional 8,863 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Packaging Co. of America by 4.2% in the third quarter. Stifel Financial Corp now owns 51,042 shares of the industrial products company's stock worth $7,838,000 after acquiring an additional 2,080 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Packaging Co. of America in the third quarter worth $390,000. Natixis Advisors L.P. raised its holdings in shares of Packaging Co. of America by 11.9% in the third quarter. Natixis Advisors L.P. now owns 88,825 shares of the industrial products company's stock worth $13,640,000 after acquiring an additional 9,440 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Packaging Co. of America by 128.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 19,869 shares of the industrial products company's stock worth $3,051,000 after acquiring an additional 11,190 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

About Packaging Co. of America

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.