Great Lakes Advisors LLC Cuts Stake in Packaging Co. of America (NYSE:PKG)

Great Lakes Advisors LLC decreased its position in shares of Packaging Co. of America (NYSE:PKG) by 79.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,130 shares of the industrial products company’s stock after selling 4,372 shares during the period. Great Lakes Advisors LLC’s holdings in Packaging Co. of America were worth $254,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after purchasing an additional 123,050 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Packaging Co. of America by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after buying an additional 132,836 shares in the last quarter. Geode Capital Management LLC raised its position in Packaging Co. of America by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after buying an additional 12,936 shares during the last quarter. FMR LLC lifted its stake in Packaging Co. of America by 3.4% during the 3rd quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after acquiring an additional 35,827 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Packaging Co. of America by 1,462.2% during the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after acquiring an additional 536,389 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Price Performance

NYSE:PKG opened at $196.68 on Monday. The firm has a market capitalization of $17.66 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The business has a 50 day simple moving average of $217.04 and a 200-day simple moving average of $222.83. Packaging Co. of America has a 1 year low of $169.00 and a 1 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 earnings per share 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 forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PKG shares. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company reduced their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. 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 report on Thursday, January 30th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, Citigroup raised their target price 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. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

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.