American Century Companies Inc. Sells 673,591 Shares of Packaging Co. of America (NYSE:PKG)

American Century Companies Inc. cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 42.7% during the fourth quarter, Holdings Channel reports. The fund owned 902,507 shares of the industrial products company’s stock after selling 673,591 shares during the period. American Century Companies Inc.’s holdings in Packaging Co. of America were worth $203,182,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. SYM FINANCIAL Corp lifted its stake in shares of Packaging Co. of America by 3.1% in the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 42 shares during the period. Mather Group LLC. lifted its stake in shares of Packaging Co. of America by 1.7% in the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 43 shares during the period. UMB Bank n.a. raised its stake in Packaging Co. of America by 3.9% during the 4th 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. Atomi Financial Group Inc. raised its stake in Packaging Co. of America by 3.3% during the 4th 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. Finally, AlphaMark Advisors LLC raised its stake in Packaging Co. of America by 3.9% during the 4th 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. 89.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and set a $265.00 price objective (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 Friday. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Citigroup raised their price objective on 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. Finally, Wells Fargo & Company dropped their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Three 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Price Performance

PKG stock opened at $194.30 on Friday. The stock has a 50-day moving average price of $214.03 and a two-hundred day moving average price of $222.35. The stock has a market cap of $17.45 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. 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 announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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 analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. 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 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.