StockNews.com Begins Coverage on Packaging Co. of America (NYSE:PKG)

StockNews.com assumed coverage on shares of Packaging Co. of America (NYSE:PKG – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on PKG. Citigroup boosted their price target on Packaging Co. of America from $123.00 to $130.00 in a research report on Wednesday, January 4th. Wells Fargo & Company boosted their price target on Packaging Co. of America from $124.00 to $125.00 and gave the stock an equal weight rating in a research report on Monday, January 9th. Bank of America cut Packaging Co. of America from a buy rating to a neutral rating and reduced their price target for the stock from $146.00 to $139.00 in a research report on Thursday, December 15th. Finally, Truist Financial boosted their price target on Packaging Co. of America from $138.00 to $144.00 and gave the stock a buy rating in a research report on Friday, January 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of Hold and an average target price of $131.88.

Packaging Co. of America Price Performance

PKG opened at $127.32 on Thursday. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 2.83 and a beta of 0.88. Packaging Co. of America has a 1 year low of $110.56 and a 1 year high of $168.50. The company has a current ratio of 2.87, a quick ratio of 1.75 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $136.80 and a 200 day moving average price of $129.93.

Packaging Co. of America (NYSE:PKG – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Packaging Co. of America had a return on equity of 27.00% and a net margin of 12.12%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.76 earnings per share. Analysts forecast that Packaging Co. of America will post 9.14 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 15th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.93%. Packaging Co. of America’s payout ratio is presently 45.41%.

Hedge Funds Weigh In On Packaging Co. of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Trust Co. increased its stake in Packaging Co. of America by 226.6% during the second quarter. Cambridge Trust Co. now owns 516 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 358 shares during the period. Baird Financial Group Inc. increased its stake in Packaging Co. of America by 3.4% during the second quarter. Baird Financial Group Inc. now owns 15,622 shares of the industrial products company’s stock valued at $2,148,000 after acquiring an additional 518 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Packaging Co. of America by 13.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,713,547 shares of the industrial products company’s stock valued at $510,612,000 after acquiring an additional 450,466 shares during the period. AlphaCrest Capital Management LLC increased its stake in Packaging Co. of America by 132.5% during the second quarter. AlphaCrest Capital Management LLC now owns 30,758 shares of the industrial products company’s stock valued at $4,229,000 after acquiring an additional 17,531 shares during the period. Finally, Outlook Wealth Advisors LLC bought a new position in Packaging Co. of America during the third quarter valued at about $255,000. 90.39% of the stock is currently owned by institutional investors.

Packaging Co. of America Company Profile

(Get Rating)

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.