Corient Private Wealth LLC Trims Holdings in Packaging Co. of America (NYSE:PKG)

Corient Private Wealth LLC reduced its stake in Packaging Co. of America (NYSE:PKG) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,654 shares of the industrial products company’s stock after selling 2,888 shares during the quarter. Corient Private Wealth LLC’s holdings in Packaging Co. of America were worth $29,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sanctuary Advisors LLC increased its position in Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after purchasing an additional 2,946 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $293,000. AlphaQuest LLC raised its position in shares of Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after buying an additional 1,954 shares during the period. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America in the fourth quarter valued at approximately $6,966,000. Finally, GAMMA Investing LLC increased its stake in Packaging Co. of America by 24.2% during the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after acquiring an additional 473 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of research analyst reports. Truist Financial reiterated a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company reduced their price target 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. Citigroup increased 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 report on Monday, January 6th. 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 report on Wednesday, December 18th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Up 0.9 %

Shares of NYSE PKG opened at $198.53 on Tuesday. The stock has a market cap of $17.83 billion, a P/E ratio of 22.23, a PEG ratio of 2.41 and a beta of 0.77. The business’s fifty day simple moving average is $216.47 and its 200-day simple moving average is $222.77. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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 predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio 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.