Packaging Co. of America (NYSE:PKG) Shares Sold by Amundi

Amundi cut its stake in shares of Packaging Co. of America (NYSE:PKG) by 10.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 300,927 shares of the industrial products company’s stock after selling 36,724 shares during the period. Amundi owned approximately 0.34% of Packaging Co. of America worth $68,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PKG. Fortitude Family Office LLC raised its position in shares of 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 valued at $37,000 after purchasing an additional 98 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at approximately $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at approximately $48,000. Finally, Assetmark Inc. raised its position in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PKG has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Wells Fargo & Company cut their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Truist Financial reiterated a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

Shares of PKG opened at $197.47 on Wednesday. The company has a market cap of $17.73 billion, a P/E ratio of 22.11, a PEG ratio of 2.41 and a beta of 0.77. The stock has a fifty day moving average price of $218.85 and a 200 day moving average price of $223.03. 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 has a 12 month low of $169.00 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data 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 return on equity of 19.67% and a net margin of 9.60%. On average, research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $1.25 per share. 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 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.