Packaging Co. of America (NYSE:PKG) Stock Position Decreased by Skba Capital Management LLC

Skba Capital Management LLC lowered its stake in Packaging Co. of America (NYSE:PKG) by 14.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,685 shares of the industrial products company’s stock after selling 7,010 shares during the quarter. Skba Capital Management LLC’s holdings in Packaging Co. of America were worth $9,385,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares in the last quarter. FMR LLC boosted its position 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 worth $231,846,000 after acquiring an additional 35,827 shares during the period. Townsquare Capital LLC grew its stake in Packaging Co. of America by 7.8% during the 3rd quarter. Townsquare Capital LLC now owns 2,791 shares of the industrial products company’s stock valued at $601,000 after acquiring an additional 201 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Packaging Co. of America by 91.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 3,774 shares of the industrial products company’s stock valued at $813,000 after purchasing an additional 1,799 shares during the period. Finally, Fiduciary Trust Co boosted its holdings in shares of Packaging Co. of America by 2.0% during the third quarter. Fiduciary Trust Co now owns 3,367 shares of the industrial products company’s stock worth $725,000 after purchasing an additional 66 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PKG has been the topic of several research reports. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company dropped their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Two research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Trading Down 1.4 %

Packaging Co. of America stock opened at $195.40 on Monday. 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 company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.41 and a beta of 0.77. The company’s fifty day moving average price is $210.46 and its two-hundred day moving average price is $222.28. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) 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 earnings per share 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. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.56%. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

About Packaging Co. of America

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.