Cullen Frost Bankers Inc. Sells 144 Shares of Packaging Co. of America (NYSE:PKG)

Cullen Frost Bankers Inc. lessened its holdings in Packaging Co. of America (NYSE:PKG) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,676 shares of the industrial products company’s stock after selling 144 shares during the period. Cullen Frost Bankers Inc.’s holdings in Packaging Co. of America were worth $602,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. SYM FINANCIAL Corp increased its position in Packaging Co. of America by 3.1% in the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 42 shares during the last quarter. Mather Group LLC. boosted its stake in Packaging Co. of America by 1.7% during the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock worth $582,000 after buying an additional 43 shares during the period. UMB Bank n.a. boosted its stake in Packaging Co. of America by 3.9% during the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock worth $262,000 after buying an additional 44 shares during the period. AlphaMark Advisors LLC boosted its stake in Packaging Co. of America by 3.9% during the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after buying an additional 52 shares during the period. Finally, Atomi Financial Group Inc. boosted its stake in Packaging Co. of America by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock worth $370,000 after buying an additional 52 shares during the period. Institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

PKG has been the subject of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Citigroup lifted their price objective 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 research note on Thursday, February 13th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Stock Up 1.5 %

Shares of PKG opened at $206.82 on Friday. The firm has a market capitalization of $18.57 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average price of $219.91 and a 200-day moving average price of $222.94.

Packaging Co. of America (NYSE:PKG) last issued its 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 net margin of 9.60% and a return on equity of 19.67%. Equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Packaging Co. of America Company 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.