Packaging Co. of America (NYSE:PKG) Price Target Lowered to $181.00 at Citigroup

Packaging Co. of America (NYSE:PKG) had its price objective trimmed by Citigroup from $183.00 to $181.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

PKG has been the topic of a number of other research reports. Bank of America raised Packaging Co. of America from a neutral rating to a buy rating and raised their price target for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Truist Financial boosted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a buy rating in a report on Thursday, January 4th. Seaport Res Ptn downgraded Packaging Co. of America from a buy rating to a neutral rating in a research note on Monday, January 29th. BNP Paribas downgraded 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. Finally, StockNews.com cut Packaging Co. of America from a buy rating to a hold rating in a report on Friday, April 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $173.57.

Packaging Co. of America Trading Down 1.5 %

NYSE:PKG opened at $171.25 on Thursday. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The business’s 50-day moving average price is $181.73 and its two-hundred day moving average price is $168.06. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $15.37 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 4.22 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. Packaging Co. of America’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share. On average, equities analysts expect that Packaging Co. of America will post 8.24 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.92%. Packaging Co. of America’s payout ratio is 62.50%.

Insider Activity at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the transaction, the vice president now directly owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,041 shares of company stock worth $6,799,177. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Packaging Co. of America

A number of hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth about $163,314,000. Boston Partners purchased a new position in Packaging Co. of America in the third quarter valued at approximately $123,821,000. Balyasny Asset Management L.P. increased its stake in Packaging Co. of America by 175.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock valued at $71,401,000 after purchasing an additional 279,059 shares during the last quarter. Retirement Systems of Alabama increased its stake in Packaging Co. of America by 1,133.4% in the fourth quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock valued at $40,850,000 after purchasing an additional 230,422 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Packaging Co. of America by 31.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock valued at $127,659,000 after purchasing an additional 189,401 shares during the last quarter. Hedge funds and other 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.