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

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

Other equities analysts have also issued research reports about the company. Truist Financial decreased their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Three 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $226.60.

Packaging Co. of America Trading Down 1.1%

NYSE PKG traded down $2.00 on Friday, reaching $181.42. 617,068 shares of the company were exchanged, compared to its average volume of 707,042. The business's fifty day moving average price is $190.72 and its 200 day moving average price is $215.51. The stock has a market capitalization of $16.31 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a fifty-two week low of $172.72 and a fifty-two week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. The company 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%. Analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

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

Institutional Investors Weigh In On Packaging Co. of America

Several institutional investors and hedge funds have recently modified their holdings of the company. CenterBook Partners LP raised its holdings in shares of Packaging Co. of America by 1,373.9% in the 1st quarter. CenterBook Partners LP now owns 17,716 shares of the industrial products company's stock valued at $3,508,000 after buying an additional 16,514 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Packaging Co. of America by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,272,704 shares of the industrial products company's stock valued at $648,061,000 after buying an additional 202,755 shares during the period. Cary Street Partners Financial LLC raised its holdings in shares of Packaging Co. of America by 0.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 8,759 shares of the industrial products company's stock valued at $1,735,000 after buying an additional 59 shares during the period. Clearstead Trust LLC raised its holdings in shares of Packaging Co. of America by 118.6% in the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock valued at $26,000 after buying an additional 70 shares during the period. Finally, Raiffeisen Bank International AG increased its holdings in Packaging Co. of America by 80.6% during the 1st quarter. Raiffeisen Bank International AG now owns 5,058 shares of the industrial products company's stock worth $989,000 after purchasing an additional 2,258 shares during the period. Hedge funds and other 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.