Packaging Co. of America (NYSE:PKG) Trading Down 3%

Packaging Co. of America (NYSE:PKG) was down 3% during mid-day trading on Thursday . The company traded as low as $180.94 and last traded at $180.97. Approximately 41,006 shares were traded during trading, a decline of 93% from the average daily volume of 625,309 shares. The stock had previously closed at $186.61.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PKG shares. Truist Financial lifted their price objective on Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Bank of America raised their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research note on Friday, April 12th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $187.00 to $191.00 in a research note on Wednesday, April 24th. Finally, Citigroup lowered their target price on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.29.

Packaging Co. of America Stock Performance

The stock has a 50-day moving average of $181.12 and a 200 day moving average of $176.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The stock has a market capitalization of $16.39 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 4.96 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The company’s revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $2.20 earnings per share. On average, analysts expect that Packaging Co. of America will post 8.33 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.74%. Packaging Co. of America’s payout ratio is currently 62.50%.

Insider Transactions at Packaging Co. of America

In related news, Director Karen E. Gowland bought 300 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the transaction, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Several institutional investors have recently modified their holdings of PKG. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America during the 1st quarter valued at about $25,000. Neo Ivy Capital Management bought a new stake in Packaging Co. of America in the 4th quarter valued at approximately $28,000. First Horizon Advisors Inc. lifted its stake in Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares in the last quarter. Gables Capital Management Inc. bought a new stake in Packaging Co. of America in the 4th quarter valued at approximately $31,000. Finally, Anchor Investment Management LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $37,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Company Profile

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.