Packaging Co. of America (NYSE:PKG) Price Target Lowered to $236.00 at Wells Fargo & Company

Packaging Co. of America (NYSE:PKG - Free Report) had its price objective decreased by Wells Fargo & Company from $253.00 to $236.00 in a research report report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company's stock.

A number of other equities analysts have also recently issued reports on PKG. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday, January 29th. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. 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 report on Monday, January 6th. Finally, Truist Financial boosted their price objective on Packaging Co. of America from $252.00 to $282.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Packaging Co. of America presently has an average rating of "Moderate Buy" and a consensus price target of $233.00.

Packaging Co. of America Trading Down 0.5 %

Shares of PKG stock traded down $1.13 on Thursday, hitting $211.53. The company had a trading volume of 551,203 shares, compared to its average volume of 949,828. The stock's 50-day moving average is $234.01 and its two-hundred day moving average is $220.60. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82. The firm has a market cap of $19.00 billion, a P/E ratio of 23.69, a P/E/G ratio of 2.29 and a beta of 0.79. 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 (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. On average, equities research analysts anticipate that Packaging Co. of America will post 11.15 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America's payout ratio is 55.99%.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by company insiders.

Institutional Trading of Packaging Co. of America

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC grew its stake in Packaging Co. of America by 17.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company's stock valued at $4,366,000 after buying an additional 2,946 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Packaging Co. of America by 8.4% in the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company's stock valued at $99,194,000 after purchasing an additional 35,614 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Packaging Co. of America by 24.2% during the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company's stock valued at $547,000 after purchasing an additional 473 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Packaging Co. of America by 227.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company's stock worth $6,945,000 after purchasing an additional 22,397 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Packaging Co. of America by 30.7% in the 3rd quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company's stock worth $24,772,000 after purchasing an additional 27,018 shares during the period. Institutional investors own 89.78% of the company's stock.

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.