Northwest & Ethical Investments L.P. Decreases Stake in Packaging Co. of America (NYSE:PKG)

Northwest & Ethical Investments L.P. reduced its stake in Packaging Co. of America (NYSE:PKG) by 60.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,926 shares of the industrial products company’s stock after selling 27,179 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Packaging Co. of America were worth $4,036,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Caprock Group LLC raised its position in Packaging Co. of America by 2.6% during the 3rd quarter. Caprock Group LLC now owns 2,465 shares of the industrial products company’s stock worth $534,000 after buying an additional 63 shares during the last quarter. Prospera Financial Services Inc raised its position in Packaging Co. of America by 2.3% during the 3rd quarter. Prospera Financial Services Inc now owns 9,410 shares of the industrial products company’s stock worth $2,029,000 after buying an additional 212 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Packaging Co. of America during the 3rd quarter worth approximately $916,000. PNC Financial Services Group Inc. raised its position in Packaging Co. of America by 1.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 60,254 shares of the industrial products company’s stock worth $12,979,000 after buying an additional 735 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Packaging Co. of America by 227.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock worth $6,945,000 after buying an additional 22,397 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Seaport Res Ptn raised shares of 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 objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Wells Fargo & Company dropped 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. Finally, Citigroup raised their price objective 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. Two 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $197.30 on Friday. The firm’s 50 day simple moving average is $214.69 and its 200-day simple moving average is $222.34. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last released 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%. Analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared 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 2.53%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

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.