Packaging Co. of America (NYSE:PKG) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. decreased its position in Packaging Co. of America (NYSE:PKG) by 35.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,743 shares of the industrial products company’s stock after selling 14,377 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Packaging Co. of America were worth $6,021,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its holdings in shares of Packaging Co. of America by 17.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 2,946 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Packaging Co. of America in the fourth quarter valued at $293,000. AlphaQuest LLC lifted its holdings in Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after buying an additional 1,954 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth about $6,966,000. Finally, Sciencast Management LP purchased a new position in shares of Packaging Co. of America in the 4th quarter valued at about $2,853,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PKG. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial reissued a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Citigroup upped their target price on 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 research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $197.94 on Tuesday. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The stock has a market capitalization of $17.77 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.41 and a beta of 0.77. The company has a 50-day simple moving average of $209.67 and a 200-day simple moving average of $222.21. 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 (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%. On average, analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.53%. Packaging Co. of America’s 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.