Tredje AP fonden Sells 2,541 Shares of Packaging Co. of America (NYSE:PKG)

Tredje AP fonden decreased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 50.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,541 shares of the industrial products company’s stock after selling 2,541 shares during the period. Tredje AP fonden’s holdings in Packaging Co. of America were worth $572,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Packaging Co. of America during the fourth quarter valued at $1,774,000. Avantax Advisory Services Inc. lifted its stake in Packaging Co. of America by 3.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 17,396 shares of the industrial products company’s stock worth $3,916,000 after purchasing an additional 624 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Packaging Co. of America by 19.0% during the fourth quarter. Farther Finance Advisors LLC now owns 703 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 112 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Packaging Co. of America by 1.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,637 shares of the industrial products company’s stock worth $819,000 after purchasing an additional 66 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Packaging Co. of America by 28.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 1,879 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 421 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 2.4 %

NYSE PKG opened at $196.68 on Friday. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The firm has a market cap of $17.66 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $217.04 and a 200-day moving average of $222.71.

Packaging Co. of America (NYSE:PKG) last announced its quarterly 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, sell-side analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.54%. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PKG shares. Wells Fargo & Company dropped their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company 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 note on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, 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. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Company 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.