Corebridge Financial Inc. Sells 284 Shares of Packaging Co. of America (NYSE:PKG)

Corebridge Financial Inc. lowered its holdings in Packaging Co. of America (NYSE:PKG) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,851 shares of the industrial products company’s stock after selling 284 shares during the period. Corebridge Financial Inc.’s holdings in Packaging Co. of America were worth $4,919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SYM FINANCIAL Corp boosted its stake in shares of Packaging Co. of America by 3.1% in the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock valued at $316,000 after buying an additional 42 shares during the period. Mather Group LLC. lifted its position in shares of Packaging Co. of America by 1.7% during the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock valued at $582,000 after acquiring an additional 43 shares during the period. UMB Bank n.a. grew its holdings in shares of Packaging Co. of America by 3.9% during the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 44 shares in the last quarter. AlphaMark Advisors LLC increased its position in shares of Packaging Co. of America by 3.9% in the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 52 shares during the period. Finally, Atomi Financial Group Inc. raised its stake in Packaging Co. of America by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock valued at $370,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reduced 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 note on Thursday, January 30th. Citigroup increased 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 report on Monday, January 6th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Truist Financial restated a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Trading Down 1.4 %

NYSE PKG opened at $195.40 on Friday. The company has a market cap of $17.55 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. 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 business’s fifty day moving average is $210.46 and its 200 day moving average is $222.16.

Packaging Co. of America (NYSE:PKG) last announced 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 net margin of 9.60% and a return on equity of 19.67%. As a group, sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm 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 $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 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.