Rockefeller Capital Management L.P. Sells 22,819 Shares of Packaging Co. of America (NYSE:PKG)

Rockefeller Capital Management L.P. lessened its holdings in Packaging Co. of America (NYSE:PKG) by 25.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 65,303 shares of the industrial products company’s stock after selling 22,819 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Packaging Co. of America were worth $14,694,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PKG. Vanguard Group Inc. boosted its position in Packaging Co. of America by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock valued at $2,571,821,000 after acquiring an additional 133,575 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after purchasing an additional 132,836 shares in the last quarter. Geode Capital Management LLC grew its stake in Packaging Co. of America by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock valued at $531,540,000 after purchasing an additional 29,427 shares during the last quarter. Invesco Ltd. raised its holdings in Packaging Co. of America by 0.8% in the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock worth $417,187,000 after purchasing an additional 14,775 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Packaging Co. of America by 7.0% during the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock valued at $352,305,000 after buying an additional 101,755 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Wells Fargo & Company decreased their price target on Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $237.80.

Packaging Co. of America Stock Up 0.8 %

Shares of PKG stock opened at $190.39 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The firm has a market capitalization of $17.12 billion, a PE ratio of 21.32, a P/E/G ratio of 2.41 and a beta of 0.84. The stock’s 50-day simple moving average is $200.38 and its 200-day simple moving average is $219.93.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s payout ratio is 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.