4 hours Ago By Defense World Staff
Packaging Co. of America ( NYSE:PKG – Free Report ) had its price target cut by Wells Fargo & Company from $253.00 to $236.
00 in a research note published on Thursday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock. Other research analysts have also recently issued reports about the stock.
Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $280.
00 in a research report on Wednesday, December 18th. StockNews.com downgraded shares of Packaging Co.
of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial upped their price objective on shares of Packaging Co. of America from $252.
00 to $282.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Citigroup lifted their target price on Packaging Co.
of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th.
Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.00.
View Our Latest Research Report on PKG Packaging Co. of America Stock Performance Packaging Co. of America ( NYSE:PKG – Get Free Report ) last issued its earnings results on Tuesday, January 28th.
The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.
04). Packaging Co. of America had a return on equity of 19.
67% and a net margin of 9.60%. As a group, equities research analysts expect that Packaging Co.
of America will post 11.31 earnings per share for the current fiscal year. Packaging Co.
of America Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a dividend of $1.25 per share.
The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.
35%. Packaging Co. of America’s payout ratio is 55.
99%. Insider Buying and Selling In other news, Director Paul T. Stecko sold 10,500 shares of Packaging Co.
of America stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.
00. Following the completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71.
The trade was a 54.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink .
Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.
00. Following the sale, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33.
This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here .
Over the last three months, insiders sold 33,300 shares of company stock worth $8,064,152. Corporate insiders own 1.60% of the company’s stock.
Hedge Funds Weigh In On Packaging Co. of America A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SYM FINANCIAL Corp lifted its holdings in shares of Packaging Co.
of America by 3.1% in the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 42 shares during the last quarter.
Mather Group LLC. increased its position in Packaging Co. of America by 1.
7% in the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock worth $582,000 after buying an additional 43 shares during the period.
UMB Bank n.a. lifted its stake in Packaging Co.
of America by 3.9% in the fourth quarter. UMB Bank n.
a. now owns 1,165 shares of the industrial products company’s stock valued at $262,000 after buying an additional 44 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of Packaging Co.
of America by 15.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 49 shares during the period.
Finally, AlphaMark Advisors LLC boosted its position in Packaging Co. of America by 3.9% during the 4th quarter.
AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 52 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.
About Packaging Co. of America ( Get Free Report ) 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. See Also Five stocks we like better than Packaging Co.
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