Packaging Co. of America (NYSE:PKG) Price Target Cut to $181.00

Packaging Co. of America (NYSE:PKG) had its price objective trimmed by Citigroup from $183.00 to $181.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other equities analysts also recently issued reports on the company. Seaport Res Ptn downgraded Packaging Co. of America from a buy rating to a neutral rating in a research report on Monday, January 29th. Truist Financial upped their target price on Packaging Co. of America from $170.00 to $187.00 and gave the company a buy rating in a research report on Thursday, January 4th. Bank of America raised Packaging Co. of America from a neutral rating to a buy rating and upped their target price for the company from $172.00 to $202.00 in a research report on Monday, March 4th. BNP Paribas downgraded Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 target price on the stock. in a research report on Friday, April 12th. Finally, Wells Fargo & Company raised Packaging Co. of America from an equal weight rating to an overweight rating and upped their target price for the company from $187.00 to $191.00 in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $173.57.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $172.85 on Thursday. The business’s fifty day simple moving average is $181.92 and its 200-day simple moving average is $168.31. The company has a market cap of $15.51 billion, a PE ratio of 21.61, a PEG ratio of 4.21 and a beta of 0.78. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 earnings per share. Analysts expect that Packaging Co. of America will post 8.2 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,041 shares of company stock valued at $6,799,177. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Planned Solutions Inc. boosted its stake in shares of Packaging Co. of America by 15.9% during the 1st quarter. Planned Solutions Inc. now owns 1,188 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 163 shares in the last quarter. Clear Creek Financial Management LLC purchased a new stake in shares of Packaging Co. of America during the 1st quarter worth about $445,000. SYSTM Wealth Solutions LLC boosted its stake in shares of Packaging Co. of America by 4.8% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,084 shares of the industrial products company’s stock worth $396,000 after acquiring an additional 96 shares in the last quarter. Checchi Capital Advisers LLC purchased a new stake in shares of Packaging Co. of America during the 1st quarter worth about $211,000. Finally, Lindbrook Capital LLC boosted its stake in shares of Packaging Co. of America by 19.5% during the 1st quarter. Lindbrook Capital LLC now owns 3,023 shares of the industrial products company’s stock worth $574,000 after acquiring an additional 493 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

About Packaging Co. of America

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.