Packaging Co. of America (NYSE:PKG) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC lessened its holdings in Packaging Co. of America (NYSE:PKG – Get Rating) by 2.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,007 shares of the industrial products company’s stock after selling 203 shares during the period. Capital Investment Advisors LLC’s holdings in Packaging Co. of America were worth $896,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cambridge Trust Co. increased its holdings in Packaging Co. of America by 226.6% in the 2nd quarter. Cambridge Trust Co. now owns 516 shares of the industrial products company’s stock worth $71,000 after buying an additional 358 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Packaging Co. of America by 13.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,713,547 shares of the industrial products company’s stock worth $510,612,000 after purchasing an additional 450,466 shares in the last quarter. AlphaCrest Capital Management LLC boosted its position in Packaging Co. of America by 132.5% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 30,758 shares of the industrial products company’s stock worth $4,229,000 after purchasing an additional 17,531 shares in the last quarter. Outlook Wealth Advisors LLC purchased a new stake in Packaging Co. of America in the 3rd quarter worth approximately $255,000. Finally, Vanguard Group Inc. boosted its position in Packaging Co. of America by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,023,946 shares of the industrial products company’s stock worth $1,350,169,000 after purchasing an additional 68,027 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Packaging Co. of America Trading Down 1.4 %

Shares of NYSE:PKG opened at $127.32 on Friday. Packaging Co. of America has a 1 year low of $110.56 and a 1 year high of $168.50. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 2.81 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.87 and a quick ratio of 1.75. The business’s 50 day moving average price is $136.80 and its 200-day moving average price is $129.93.

Packaging Co. of America (NYSE:PKG – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The industrial products company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.05 billion. Packaging Co. of America had a return on equity of 27.00% and a net margin of 12.12%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.76 EPS. On average, equities research analysts forecast that Packaging Co. of America will post 9.14 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 15th will be issued a $1.25 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 3.93%. Packaging Co. of America’s payout ratio is currently 45.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PKG shares. Truist Financial upped their price objective on Packaging Co. of America from $138.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. Citigroup upped their price objective on Packaging Co. of America from $123.00 to $130.00 in a research report on Wednesday, January 4th. StockNews.com started coverage on Packaging Co. of America in a research report on Thursday. They issued a “hold” rating on the stock. Bank of America lowered Packaging Co. of America from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $146.00 to $139.00 in a research report on Thursday, December 15th. Finally, Wells Fargo & Company increased their target price on Packaging Co. of America from $124.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, January 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $131.88.

Packaging Co. of America Company Profile

(Get Rating)

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.