Packaging Co. of America Announces Quarterly Dividend of $1.25 (NYSE:PKG)

Packaging Co. of America (NYSE:PKG) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Friday, March 14th will be paid a dividend of 1.25 per share by the industrial products company on Tuesday, April 15th. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Friday, March 14th.

Packaging Co. of America has raised its dividend payment by an average of 7.7% per year over the last three years. Packaging Co. of America has a payout ratio of 42.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Packaging Co. of America to earn $11.41 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 43.8%.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $197.47 on Wednesday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a market cap of $17.73 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The stock’s fifty day simple moving average is $218.85 and its two-hundred day simple moving average is $223.03. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PKG. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Truist Financial restated a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.00.

About Packaging Co. of America

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.