Securian Asset Management Inc. Decreases Holdings in Packaging Co. of America (NYSE:PKG)

Securian Asset Management Inc. cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 2.1% in the 4th quarter, HoldingsChannel reports. The firm owned 4,736 shares of the industrial products company’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Packaging Co. of America were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. State Street Corp increased its position in shares of Packaging Co. of America by 3.2% during the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after purchasing an additional 123,050 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Packaging Co. of America by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after purchasing an additional 132,836 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Packaging Co. of America by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock valued at $501,896,000 after purchasing an additional 12,936 shares during the last quarter. FMR LLC increased its position in shares of Packaging Co. of America by 3.4% during the 3rd quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after purchasing an additional 35,827 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Packaging Co. of America by 1,462.2% during the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after purchasing an additional 536,389 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PKG shares. Wells Fargo & Company cut 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. Jefferies Financial Group upgraded 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 research note on Wednesday, December 18th. Truist Financial reiterated 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. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Two equities research 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.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Up 2.4 %

Shares of NYSE PKG opened at $196.68 on Friday. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The business has a 50-day simple moving average of $217.04 and a two-hundred day simple moving average of $222.58. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The company has a market cap of $17.66 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate 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%. Research 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 2.54%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 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.