Packaging Co. of America (NYSE:PKG) Shares Sold by Southeast Asset Advisors LLC

Southeast Asset Advisors LLC lessened its stake in Packaging Co. of America (NYSE:PKG) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 4,962 shares of the industrial products company’s stock after selling 119 shares during the period. Southeast Asset Advisors LLC’s holdings in Packaging Co. of America were worth $1,117,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC grew its position in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth about $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth approximately $48,000. Rialto Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth approximately $63,000. Finally, Intact Investment Management Inc. acquired a new position in Packaging Co. of America during the fourth quarter valued at approximately $68,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Citigroup raised their price objective 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. 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. Truist Financial reiterated a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Down 3.2 %

Shares of NYSE PKG opened at $183.04 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 1 year low of $169.00 and a 1 year high of $250.82. The stock’s 50-day simple moving average is $205.91 and its 200-day simple moving average is $221.66. The firm has a market cap of $16.46 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last announced 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%. As a group, equities analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 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.