Cullen Capital Management LLC Sells 160 Shares of Packaging Co. of America (NYSE:PKG)

Cullen Capital Management LLC decreased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,863 shares of the industrial products company’s stock after selling 160 shares during the period. Cullen Capital Management LLC’s holdings in Packaging Co. of America were worth $2,896,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in Packaging Co. of America in the fourth quarter valued at about $258,928,000. Raymond James Financial Inc. acquired a new position in shares of Packaging Co. of America during the 4th quarter worth about $50,175,000. Conning Inc. bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $32,329,000. Two Sigma Advisers LP raised its position in shares of Packaging Co. of America by 218.1% in the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after acquiring an additional 142,400 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Packaging Co. of America by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock worth $2,571,821,000 after acquiring an additional 133,575 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PKG. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday. 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. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company dropped their price target 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, Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Down 3.2 %

PKG stock opened at $183.04 on Friday. 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 stock has a market capitalization of $16.46 billion, a P/E ratio of 20.50, a P/E/G ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The business has a 50-day moving average of $205.91 and a 200-day moving average of $221.60.

Packaging Co. of America (NYSE:PKG) last released 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 return on equity of 19.67% and a net margin of 9.60%. On average, sell-side analysts anticipate 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 declared 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 of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.73%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 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.