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 report released on Friday.

Several other equities analysts also recently issued reports on PKG. Citigroup raised 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. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and upped their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Truist Financial restated a "buy" rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Three equities 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.

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Packaging Co. of America Price Performance

Shares of NYSE:PKG traded down $2.19 during trading on Friday, hitting $198.62. 999,426 shares of the company were exchanged, compared to its average volume of 621,338. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The company has a market capitalization of $17.84 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The business's 50 day moving average is $212.76 and its 200-day moving average is $222.43.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted 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 net margin of 9.60% and a return on equity of 19.67%. Equities analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.52%. Packaging Co. of America's dividend payout ratio is currently 55.99%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caprock Group LLC boosted its position in shares of Packaging Co. of America by 2.6% during the 3rd quarter. Caprock Group LLC now owns 2,465 shares of the industrial products company's stock worth $534,000 after purchasing an additional 63 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Packaging Co. of America during the 3rd quarter worth approximately $916,000. PNC Financial Services Group Inc. boosted its holdings in Packaging Co. of America by 1.2% in the third quarter. PNC Financial Services Group Inc. now owns 60,254 shares of the industrial products company's stock worth $12,979,000 after acquiring an additional 735 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Packaging Co. of America by 227.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company's stock valued at $6,945,000 after acquiring an additional 22,397 shares during the period. Finally, Trustmark National Bank Trust Department acquired a new stake in Packaging Co. of America in the third quarter valued at approximately $277,000. 89.78% of the stock is 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.