Candriam S.C.A. Sells 773 Shares of Packaging Co. of America (NYSE:PKG)

Candriam S.C.A. lessened its holdings in Packaging Co. of America (NYSE:PKG) by 10.6% during the 4th quarter, Holdings Channel reports. The firm owned 6,519 shares of the industrial products company’s stock after selling 773 shares during the period. Candriam S.C.A.’s holdings in Packaging Co. of America were worth $1,468,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America during the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America during the 4th quarter worth approximately $48,000. Finally, Assetmark Inc. boosted its stake in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG opened at $206.82 on Monday. 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 has a twelve month low of $169.00 and a twelve month high of $250.82. The firm’s 50 day moving average price is $219.91 and its two-hundred day moving average price is $223.09. The firm has a market cap of $18.57 billion, a P/E ratio of 23.16, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results 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 net margin of 9.60% and a return on equity of 19.67%. On average, analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.42%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PKG. 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. 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. Truist Financial reissued 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. Wells Fargo & Company reduced their price objective on shares of 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. 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 analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued 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.