Argus cut shares of Packaging Co. of America (NYSE: PKG) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
A number of other analysts have also recently weighed in on PKG. Analysts at Barclays Capital raised their price target on shares of Packaging Co. of America from $38.00 to $39.00 in a research note to investors on Wednesday, January 23rd. They now have an equal weight rating on the stock. Analysts at BMO Capital Markets cut their price target on shares of Packaging Co. of America from $42.00 to $38.00 in a research note to investors on Monday, January 14th. They now have a market perform rating on the stock.
Shares of Packaging Co. of America traded down 0.07% during mid-day trading on Wednesday, hitting $41.75. Packaging Co. of America has a 52 week low of $25.77 and a 52 week high of $42.46. The stock’s 50-day moving average is currently $39.87. The company has a market cap of $4.020 billion and a P/E ratio of 24.87.
The company also recently declared a quarterly dividend, which is scheduled for Monday, April 15th. Investors of record on Friday, March 15th will be given a dividend of $0.31 per share. This represents a $1.25 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, March 13th. This is an increase from Packaging Co. of America’s previous quarterly dividend of $0.25.
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