Packaging Co. of America (NYSE:PKG) Downgraded by Jefferies Financial Group to “Hold”

Jefferies Financial Group lowered shares of Packaging Co. of America (NYSE:PKG) from a buy rating to a hold rating in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have $205.00 price target on the industrial products company’s stock, down from their prior price target of $245.00.

Several other brokerages have also recently issued reports on PKG. Wall Street Zen cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. UBS Group assumed coverage on Packaging Co. of America in a research report on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price objective on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Finally, Truist Financial cut their target price on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $209.67.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $189.39 on Monday. The company has a market cap of $17.04 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 1 year low of $172.72 and a 1 year high of $250.82. The stock’s 50 day simple moving average is $189.32 and its two-hundred day simple moving average is $207.24. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.10. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, equities analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.64%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 52.30%.

Institutional Investors Weigh In On Packaging Co. of America

Several hedge funds and other institutional investors have recently modified their holdings of PKG. Cim LLC boosted its holdings in Packaging Co. of America by 0.8% during the 1st quarter. Cim LLC now owns 11,909 shares of the industrial products company’s stock valued at $2,358,000 after acquiring an additional 95 shares during the period. Inspire Investing LLC boosted its stake in shares of Packaging Co. of America by 38.6% during the first quarter. Inspire Investing LLC now owns 1,592 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 443 shares during the period. Strs Ohio bought a new position in shares of Packaging Co. of America in the first quarter worth about $10,124,000. Geneos Wealth Management Inc. increased its stake in Packaging Co. of America by 40.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock worth $39,000 after buying an additional 57 shares during the period. Finally, Intech Investment Management LLC boosted its position in Packaging Co. of America by 100.0% in the 1st quarter. Intech Investment Management LLC now owns 14,205 shares of the industrial products company’s stock valued at $2,813,000 after buying an additional 7,102 shares during the period. 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 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.