Heartland Advisors Inc. Sells 27,624 Shares of Packaging Co. of America (NYSE:PKG)

Heartland Advisors Inc. lowered its holdings in Packaging Co. of America (NYSE:PKG) by 37.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,180 shares of the industrial products company’s stock after selling 27,624 shares during the quarter. Heartland Advisors Inc. owned 0.05% of Packaging Co. of America worth $10,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC increased its stake in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares in the last quarter. Larson Financial Group LLC grew its stake in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $44,000. Golden State Wealth Management LLC bought a new stake in Packaging Co. of America during the 4th quarter valued at $48,000. Finally, Rialto Wealth Management LLC bought a new stake in Packaging Co. of America during the fourth quarter valued at about $63,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Down 0.5 %

PKG opened at $198.44 on Friday. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The business has a 50-day moving average of $211.30 and a two-hundred day moving average of $222.10. 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 $17.82 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. On average, research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.52%. Packaging Co. of America’s payout ratio is presently 55.99%.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company cut their target price 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. Truist Financial reiterated a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup boosted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

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.