Packaging Co. of America (NYSE:PKG) Price Target Lowered to $238.00 at Truist Financial

Packaging Co. of America (NYSE:PKG - Free Report) had its price target reduced by Truist Financial from $265.00 to $238.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company's stock.

Other equities research analysts have also recently issued research reports about the stock. Citigroup lifted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lowered their price target on Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $232.40.

Packaging Co. of America Price Performance

NYSE:PKG opened at $186.29 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a 50 day moving average price of $197.60 and a 200-day moving average price of $218.74. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The firm has a market cap of $16.75 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Equities research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $1.25 per share. The ex-dividend date was Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.68%. Packaging Co. of America's payout ratio is 55.99%.

Institutional Trading of Packaging Co. of America

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Packaging Co. of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after purchasing an additional 133,575 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Packaging Co. of America by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock worth $691,138,000 after buying an additional 132,836 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Packaging Co. of America by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock valued at $531,540,000 after buying an additional 29,427 shares during the period. Invesco Ltd. grew its position in Packaging Co. of America by 0.8% in the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock worth $417,187,000 after acquiring an additional 14,775 shares during the period. Finally, Boston Partners increased its stake in Packaging Co. of America by 7.0% during the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock worth $352,305,000 after acquiring an additional 101,755 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

About Packaging Co. of America

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.

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