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

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

Analyst Upgrades and Downgrades

PKG has been the topic of a number of analyst reports. Citigroup dropped their price objective on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Truist Financial lifted their price target on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Bank of America lifted their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $187.00 to $191.00 in a research note on Wednesday, April 24th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.29.

Packaging Co. of America Stock Down 1.4 %

The business has a fifty day simple moving average of $180.97 and a two-hundred day simple moving average of $176.16. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The company has a market cap of $16.52 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 5.07 and a beta of 0.78.

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

Packaging Co. of America Dividend Announcement

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

Insider Transactions at Packaging Co. of America

In related news, Director Karen E. Gowland purchased 300 shares of Packaging Co. of America stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the acquisition, the director now directly owns 916 shares in the company, valued at $166,766.96. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in Packaging Co. of America in the 4th quarter valued at about $163,314,000. Boston Partners raised its holdings in Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after buying an additional 477,487 shares during the period. Balyasny Asset Management L.P. raised its holdings in Packaging Co. of America by 175.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock valued at $71,401,000 after buying an additional 279,059 shares during the period. Retirement Systems of Alabama raised its holdings in Packaging Co. of America by 1,133.4% in the 4th quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock valued at $40,850,000 after buying an additional 230,422 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Packaging Co. of America by 31.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock valued at $127,659,000 after buying an additional 189,401 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

About Packaging Co. of America

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.