Packaging Co. of America (NYSE:PKG) Receives Equal Weight Rating from Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Packaging Co. of America (NYSE:PKG) in a research report sent to investors on Friday morning, Marketbeat.com reports. They currently have a $180.00 price objective on the industrial products company’s stock, down from their prior price objective of $205.00.

A number of other analysts also recently weighed in on PKG. Truist Financial decreased their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Packaging Co. of America has a consensus rating of “Moderate Buy” and an average target price of $226.60.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $181.42 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company’s fifty day moving average price is $190.72 and its two-hundred day moving average price is $215.69. The firm has a market capitalization of $16.31 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, June 13th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 52.30%.

Hedge Funds Weigh In On Packaging Co. of America

Large investors have recently bought and sold shares of the business. Clearstead Trust LLC raised its position in shares of Packaging Co. of America by 118.6% during the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 70 shares during the period. TCTC Holdings LLC grew its stake in Packaging Co. of America by 86.4% during the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company’s stock worth $30,000 after buying an additional 70 shares during the last quarter. Fortitude Family Office LLC increased its position in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the period. Alpine Bank Wealth Management bought a new stake in Packaging Co. of America in the first quarter valued at $39,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Packaging Co. of America during the first quarter valued at $40,000. 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.