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

Packaging Co. of America (NYSE:PKG) had its target price lowered by Citigroup from $183.00 to $181.00 in a research note issued to investors on Thursday morning, Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

Several other research analysts also recently issued reports on PKG. Bank of America raised shares of Packaging Co. of America from a neutral rating to a buy rating and raised their price objective for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. StockNews.com cut shares of Packaging Co. of America from a buy rating to a hold rating in a research note on Friday, April 19th. Truist Financial raised their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a buy rating in a research note on Thursday, January 4th. Wells Fargo & Company upgraded shares of Packaging Co. of America from an equal weight rating to an overweight rating and raised their target price for the stock from $187.00 to $191.00 in a research note on Wednesday, April 24th. Finally, Seaport Res Ptn cut shares of Packaging Co. of America from a buy rating to a neutral rating in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $173.57.

Packaging Co. of America Trading Up 0.9 %

Shares of Packaging Co. of America stock opened at $172.85 on Thursday. Packaging Co. of America has a 1 year low of $122.20 and a 1 year high of $191.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. The company has a market capitalization of $15.51 billion, a P/E ratio of 21.61, a PEG ratio of 4.21 and a beta of 0.78. The company’s fifty day moving average is $181.92 and its two-hundred day moving average is $168.41.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data 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. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm posted $2.20 EPS. Packaging Co. of America’s revenue for the quarter was up .2% on a year-over-year basis. Analysts forecast that Packaging Co. of America will post 8.2 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. Investors of record on Friday, March 15th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the transaction, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock worth $6,799,177 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

Institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System purchased a new stake in Packaging Co. of America in the fourth quarter valued at approximately $880,000. International Assets Investment Management LLC grew its holdings in Packaging Co. of America by 19,323.7% in the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock valued at $4,936,000 after purchasing an additional 30,145 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Packaging Co. of America during the fourth quarter valued at approximately $16,338,000. Meiji Yasuda Asset Management Co Ltd. lifted its position in Packaging Co. of America by 60.4% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,020 shares of the industrial products company’s stock valued at $771,000 after buying an additional 1,890 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Packaging Co. of America by 90.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company’s stock valued at $2,188,000 after buying an additional 6,368 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

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.