Wells Fargo & Company MN Has $88.30 Million Position in Packaging Co. of America (NYSE:PKG)

Wells Fargo & Company MN lessened its stake in Packaging Co. of America (NYSE:PKG) by 2.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 392,195 shares of the industrial products company’s stock after selling 10,082 shares during the period. Wells Fargo & Company MN’s holdings in Packaging Co. of America were worth $88,295,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in PKG. Integrated Wealth Concepts LLC acquired a new stake in shares of Packaging Co. of America during the 3rd quarter worth approximately $312,000. IHT Wealth Management LLC acquired a new stake in Packaging Co. of America during the third quarter worth $268,000. Worldquant Millennium Advisors LLC bought a new stake in Packaging Co. of America in the 3rd quarter valued at $1,467,000. Wellington Management Group LLP raised its stake in shares of Packaging Co. of America by 30.0% in the 3rd 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. Finally, National Bank of Canada FI lifted its holdings in shares of Packaging Co. of America by 205.8% during the 3rd quarter. National Bank of Canada FI now owns 81,370 shares of the industrial products company’s stock worth $17,527,000 after acquiring an additional 54,765 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of analyst reports. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Truist Financial restated a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company cut their price objective on 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. Three research 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Trading Down 1.5 %

Shares of PKG opened at $180.65 on Tuesday. The stock has a fifty day moving average price of $204.73 and a two-hundred day moving average price of $221.42. 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 company has a market cap of $16.25 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 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.