Packaging Co. of America (NYSE:PKG) Stock Holdings Reduced by Weaver C. Barksdale & Associates Inc.

Weaver C. Barksdale & Associates Inc. cut its position in shares of Packaging Co. of America (NYSE:PKG) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,080 shares of the industrial products company’s stock after selling 353 shares during the period. Packaging Co. of America accounts for about 2.4% of Weaver C. Barksdale & Associates Inc.’s investment portfolio, making the stock its 3rd largest position. Weaver C. Barksdale & Associates Inc.’s holdings in Packaging Co. of America were worth $2,493,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PKG. Sanctuary Advisors LLC increased its position in Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 2,946 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Packaging Co. of America in the 4th quarter worth approximately $293,000. AlphaQuest LLC lifted its holdings in Packaging Co. of America by 25.3% in the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after purchasing an additional 1,954 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America during the fourth quarter valued at approximately $6,966,000. Finally, Sciencast Management LP bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $2,853,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PKG. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Truist Financial reissued 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 report on Thursday, January 30th. Wells Fargo & Company lowered their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Citigroup increased their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Stock Down 1.1 %

PKG opened at $198.62 on Wednesday. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The company has a market capitalization of $17.84 billion, a P/E ratio of 22.24, a P/E/G 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. The firm’s fifty day moving average price is $212.76 and its two-hundred day moving average price is $222.43.

Packaging Co. of America (NYSE:PKG) last issued its earnings results 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, analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

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