Packaging Corp Of America (NYSE:PKG) was downgraded by stock analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a report issued on Monday, The Fly reports.

Several other equities analysts have also weighed in on the stock. Wells Fargo raised shares of Packaging Corp Of America to a “buy” rating in a report on Wednesday, October 7th. Macquarie lowered shares of Packaging Corp Of America from a “neutral” rating to an “underperform” rating in a report on Monday. Zacks Investment Research lowered shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Sunday, October 25th. Barclays reaffirmed an “equal weight” rating and set a $67.00 target price (down from $80.00) on shares of Packaging Corp Of America in a report on Monday, October 26th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of Packaging Corp Of America in a report on Wednesday, December 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $71.75.

Packaging Corp Of America (NYSE:PKG) traded up 0.30% during trading on Monday, reaching $49.85. 2,366,867 shares of the company’s stock traded hands. The company has a 50-day moving average price of $60.85 and a 200 day moving average price of $65.49. Packaging Corp Of America has a one year low of $48.73 and a one year high of $84.88. The firm has a market capitalization of $4.79 billion and a PE ratio of 11.15.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Monday, January 25th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.03 by $0.05. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. On average, analysts anticipate that Packaging Corp Of America will post $4.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 15th. Investors of record on Monday, December 28th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 4.43%. This is a boost from Packaging Corp Of America’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, December 23rd.

Several large investors have added to or reduced their stakes in PKG. DekaBank Deutsche Girozentrale raised its stake in Packaging Corp Of America by 36.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 545,433 shares of the company’s stock worth $34,908,000 after buying an additional 145,299 shares during the last quarter. Naples Global Advisors LLC raised its stake in Packaging Corp Of America by 7.1% in the fourth quarter. Naples Global Advisors LLC now owns 23,829 shares of the company’s stock worth $1,502,000 after buying an additional 1,583 shares during the last quarter. Wright Investors Service Inc. raised its stake in Packaging Corp Of America by 5.1% in the fourth quarter. Wright Investors Service Inc. now owns 22,164 shares of the company’s stock worth $1,397,000 after buying an additional 1,070 shares during the last quarter. Finally, Mork Capital Management LLC acquired a new stake in Packaging Corp Of America during the fourth quarter worth about $788,000.

In other news, CEO Mark W. Kowlzan sold 5,000 shares of the company’s stock in a transaction on Thursday, November 19th. The shares were sold at an average price of $66.00, for a total transaction of $330,000.00. Following the completion of the sale, the chief executive officer now owns 305,591 shares of the company’s stock, valued at $20,169,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas A. Hassfurther sold 4,668 shares of the company’s stock in a transaction on Friday, November 13th. The stock was sold at an average price of $65.32, for a total transaction of $304,913.76. Following the sale, the vice president now directly owns 143,948 shares of the company’s stock, valued at approximately $9,402,683.36. The disclosure for this sale can be found here.

Packaging Corporation of America (NYSE:PKG) is a producer of containerboard and white papers. The Company operates eight mills and 99 corrugated products manufacturing plants. The Company’s operations are primarily in the United States and it has converting operations in Europe, Mexico, and Canada. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company’s corrugated products manufacturing plants produce a variety of corrugated packaging products, including shipping containers used to protect and transport manufactured goods, multi-color boxes, and displays. It manufactures its Packaging products at five containerboard mills, one containerboard machine, corrugated manufacturing operations, and protective packaging operations. Its Paper segment manufactures and sells white papers. Its Corporate and Other segment includes corporate support staff services and related assets and liabilities, and foreign exchange gains and losses.

12 Month Chart for NYSE:PKG

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