Packaging Co. of America (NYSE:PKG) Shares Sold by Covestor Ltd

Covestor Ltd lowered its position in shares of Packaging Co. of America (NYSE:PKG) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 604 shares of the industrial products company’s stock after selling 60 shares during the quarter. Covestor Ltd’s holdings in Packaging Co. of America were worth $136,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new stake in Packaging Co. of America in the third quarter valued at about $312,000. Wellington Management Group LLP boosted its stake in shares of Packaging Co. of America by 30.0% in the third quarter. Wellington Management Group LLP now owns 12,070 shares of the industrial products company’s stock valued at $2,600,000 after buying an additional 2,786 shares in the last quarter. MML Investors Services LLC grew its holdings in Packaging Co. of America by 16.8% during the third quarter. MML Investors Services LLC now owns 17,086 shares of the industrial products company’s stock worth $3,680,000 after acquiring an additional 2,461 shares during the period. Geode Capital Management LLC raised its position in Packaging Co. of America by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after acquiring an additional 12,936 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Packaging Co. of America by 1.4% in the third quarter. Toronto Dominion Bank now owns 44,122 shares of the industrial products company’s stock valued at $9,504,000 after acquiring an additional 627 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial reissued 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. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Finally, Wells Fargo & Company decreased their target price on Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average price target of $228.50.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $188.95 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The business’s fifty day moving average price is $200.77 and its two-hundred day moving average price is $220.07. The stock has a market cap of $16.99 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS 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%. On average, analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Packaging Co. of America 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.