Packaging Co. of America (NYSE:PKG) Trading Down 3%

Packaging Co. of America (NYSE:PKG) fell 3% on Thursday . The company traded as low as $180.94 and last traded at $180.97. 41,006 shares traded hands during trading, a decline of 93% from the average session volume of 625,309 shares. The stock had previously closed at $186.61.

Analysts Set New Price Targets

A number of brokerages have weighed in on PKG. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $187.00 to $191.00 in a research note on Wednesday, April 24th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research report on Friday, April 12th. Bank of America lifted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, Citigroup decreased their target price on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $176.29.

Packaging Co. of America Trading Down 1.4 %

The firm has a market cap of $16.52 billion, a P/E ratio of 23.32, a P/E/G ratio of 5.07 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The firm has a fifty day moving average of $180.97 and a 200-day moving average of $176.16.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 18.80% and a net margin of 9.25%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. Equities research analysts forecast that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling

In other Packaging Co. of America news, Director Karen E. Gowland bought 300 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now directly owns 916 shares of the company’s stock, valued at $166,766.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Packaging Co. of America

Hedge funds have recently added to or reduced their stakes in the business. Register Financial Advisors LLC bought a new stake in Packaging Co. of America during the 1st quarter valued at $25,000. Neo Ivy Capital Management bought a new stake in Packaging Co. of America during the 4th quarter valued at $28,000. First Horizon Advisors Inc. raised its stake in Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares in the last quarter. Gables Capital Management Inc. bought a new stake in Packaging Co. of America during the 4th quarter valued at $31,000. Finally, Anchor Investment Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth $37,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Company Profile

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.