Packaging Co. of America (NYSE:PKG) Shares Sold by HFR Wealth Management LLC

HFR Wealth Management LLC reduced its stake in shares of Packaging Co. of America (NYSE:PKG) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,234 shares of the industrial products company’s stock after selling 125 shares during the period. Packaging Co. of America comprises approximately 3.0% of HFR Wealth Management LLC’s holdings, making the stock its 15th biggest position. HFR Wealth Management LLC’s holdings in Packaging Co. of America were worth $12,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Schechter Investment Advisors LLC boosted its holdings in shares of Packaging Co. of America by 13.0% in the 4th quarter. Schechter Investment Advisors LLC now owns 1,284 shares of the industrial products company’s stock valued at $289,000 after buying an additional 148 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Packaging Co. of America by 79.0% in the 4th quarter. Jones Financial Companies Lllp now owns 666 shares of the industrial products company’s stock valued at $150,000 after buying an additional 294 shares during the period. Modera Wealth Management LLC boosted its holdings in shares of Packaging Co. of America by 16.7% in the 4th quarter. Modera Wealth Management LLC now owns 2,825 shares of the industrial products company’s stock valued at $636,000 after buying an additional 405 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Packaging Co. of America by 40.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 773 shares of the industrial products company’s stock valued at $174,000 after buying an additional 222 shares during the period. Finally, Metis Global Partners LLC boosted its holdings in shares of Packaging Co. of America by 4.1% in the 4th quarter. Metis Global Partners LLC now owns 8,430 shares of the industrial products company’s stock valued at $1,898,000 after buying an additional 334 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Citigroup lifted their price objective on shares of 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. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company cut 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 report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Trading Down 1.7 %

Shares of NYSE:PKG opened at $209.39 on Tuesday. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The company has a market cap of $18.80 billion, a PE ratio of 23.45, a P/E/G ratio of 2.41 and a beta of 0.77. The company’s 50-day moving average price is $221.83 and its 200 day moving average price is $222.91. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS 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%. Sell-side analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business 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 is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.39%. Packaging Co. of America’s dividend payout ratio (DPR) is 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.