Packaging Co. of America's (PKG) Equal Weight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of Packaging Co. of America (NYSE:PKG - Free Report) in a report published on Friday, Marketbeat reports. They currently have a $180.00 target price on the industrial products company's stock, down from their prior target price of $205.00.

PKG has been the subject of several other reports. Truist Financial decreased their target price 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 research note on Sunday, April 6th. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $226.60.

Packaging Co. of America Stock Up 1.6%

NYSE:PKG traded up $3.03 on Friday, hitting $191.82. 1,388,654 shares of the company's stock traded hands, compared to its average volume of 713,107. The company has a market cap of $17.26 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 1 year low of $172.72 and a 1 year high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $190.12 and a 200-day moving average price of $215.08.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Equities analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

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 given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's dividend payout ratio is currently 52.30%.

Hedge Funds Weigh In On Packaging Co. of America

Several large investors have recently made changes to their positions in PKG. SYM FINANCIAL Corp grew its position in Packaging Co. of America by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company's stock worth $316,000 after buying an additional 42 shares in the last quarter. Mather Group LLC. increased its position in Packaging Co. of America by 1.7% in the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock valued at $582,000 after acquiring an additional 43 shares in the last quarter. UMB Bank n.a. boosted its position in Packaging Co. of America by 3.9% in the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company's stock valued at $262,000 after buying an additional 44 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of Packaging Co. of America by 3.9% during the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company's stock worth $312,000 after buying an additional 52 shares during the period. Finally, Atomi Financial Group Inc. boosted its stake in Packaging Co. of America by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company's stock valued at $370,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

About Packaging Co. of America

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.