Packaging Co. of America (NYSE:PKG) Lowered to "Hold" Rating by StockNews.com

StockNews.com downgraded shares of Packaging Co. of America (NYSE:PKG - Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

PKG has been the subject of a number of other research reports. Wells Fargo & Company boosted 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 note on Thursday, October 24th. Citigroup raised their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Finally, Truist Financial reissued a "buy" rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $221.60.

Packaging Co. of America Stock Up 2.4 %

Shares of PKG traded up $5.81 during mid-day trading on Wednesday, hitting $244.12. 1,030,829 shares of the company's stock were exchanged, compared to its average volume of 601,937. The stock's 50-day moving average is $223.36 and its 200-day moving average is $201.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a fifty-two week low of $151.74 and a fifty-two week high of $248.62. The company has a market cap of $21.92 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 3.31 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share. On average, sell-side analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.05%. Packaging Co. of America's dividend payout ratio is currently 58.28%.

Insider Activity at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 12,500 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Trading of Packaging Co. of America

Institutional investors and hedge funds have recently modified their holdings of the business. Asset Dedication LLC raised its stake in 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 valued at $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Packaging Co. of America during the third quarter valued at approximately $32,000. Tortoise Investment Management LLC acquired a new stake in Packaging Co. of America during the second quarter worth approximately $33,000. Larson Financial Group LLC grew its stake in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after acquiring an additional 115 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in Packaging Co. of America in the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

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.