Packaging Co. of America (NYSE:PKG - Free Report) had its target price lowered by Wells Fargo & Company from $236.00 to $209.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company's stock.
Several other equities analysts also recently issued reports on PKG. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Truist Financial reissued a "buy" rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Citigroup lifted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $237.80.
Read Our Latest Stock Analysis on Packaging Co. of America
Packaging Co. of America Stock Up 1.9 %
Shares of NYSE:PKG traded up $3.50 on Tuesday, hitting $188.95. 830,656 shares of the company's stock were exchanged, compared to its average volume of 698,863. 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 $16.99 billion, a PE ratio of 21.16, a P/E/G ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm's 50-day moving average is $200.77 and its 200 day moving average is $220.07.
Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Sell-side analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.
Packaging Co. of America Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 55.99%.
Hedge Funds Weigh In On Packaging Co. of America
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Packaging Co. of America in the 4th quarter worth $258,928,000. GAMMA Investing LLC raised its holdings in Packaging Co. of America by 25,461.0% during the first quarter. GAMMA Investing LLC now owns 621,387 shares of the industrial products company's stock worth $123,047,000 after purchasing an additional 618,956 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Packaging Co. of America by 106.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 848,395 shares of the industrial products company's stock worth $190,999,000 after purchasing an additional 438,012 shares in the last quarter. Select Equity Group L.P. purchased a new stake in Packaging Co. of America in the 4th quarter valued at approximately $72,339,000. Finally, Point72 Asset Management L.P. boosted its holdings in Packaging Co. of America by 642.7% in the 4th quarter. Point72 Asset Management L.P. now owns 271,806 shares of the industrial products company's stock valued at $61,192,000 after purchasing an additional 235,211 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.
Packaging Co. of America Company Profile
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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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