Wells Fargo & Company Reiterates “Equal Weight” Rating for Packaging Co. of America (NYSE:PKG)

Wells Fargo & Company reiterated their equal weight rating on shares of Packaging Co. of America (NYSE:PKG) in a research note published on Friday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has a $180.00 price objective on the industrial products company’s stock, down from their previous price objective of $205.00.

PKG has been the subject of a number of other reports. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Truist Financial reduced their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.60.

Packaging Co. of America Stock Performance

PKG opened at $181.42 on Friday. The company has a market capitalization of $16.31 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. 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 has a 1-year low of $172.72 and a 1-year high of $250.82. The business has a 50 day moving average price of $190.72 and a two-hundred day moving average price of $215.51.

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

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.76%. Packaging Co. of America’s dividend payout ratio is currently 52.30%.

Institutional Trading of Packaging Co. of America

A number of hedge funds have recently bought and sold shares of PKG. Franklin Resources Inc. grew its position in Packaging Co. of America by 4.3% during the 3rd quarter. Franklin Resources Inc. now owns 130,628 shares of the industrial products company’s stock worth $28,736,000 after purchasing an additional 5,339 shares in the last quarter. Principal Financial Group Inc. raised its position in Packaging Co. of America by 8.4% during the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock valued at $99,194,000 after buying an additional 35,614 shares during the period. Nordea Investment Management AB raised its position in Packaging Co. of America by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 7,438 shares of the industrial products company’s stock valued at $1,676,000 after buying an additional 291 shares during the period. Fortitude Family Office LLC lifted its stake in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares in the last quarter. Finally, Czech National Bank boosted its position in Packaging Co. of America by 6.4% during the 4th quarter. Czech National Bank now owns 19,334 shares of the industrial products company’s stock worth $4,353,000 after acquiring an additional 1,171 shares during the period. 89.78% of the stock is 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.