FIL Ltd Has $450.70 Million Holdings in Packaging Co. of America (NYSE:PKG)

FIL Ltd decreased its stake in Packaging Co. of America (NYSE:PKG) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,001,934 shares of the industrial products company’s stock after selling 245,240 shares during the period. FIL Ltd’s holdings in Packaging Co. of America were worth $450,695,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sanctuary Advisors LLC increased its holdings in shares of Packaging Co. of America by 17.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after purchasing an additional 2,946 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in Packaging Co. of America during the fourth quarter valued at about $293,000. AlphaQuest LLC raised 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 valued at $2,180,000 after acquiring an additional 1,954 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America in the 4th quarter valued at approximately $6,966,000. Finally, Sciencast Management LP bought a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $2,853,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

NYSE:PKG opened at $180.65 on Tuesday. 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 firm has a market cap of $16.25 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company’s 50-day moving average price is $204.73 and its two-hundred day moving average price is $221.42.

Packaging Co. of America (NYSE:PKG) last announced 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%. On average, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s payout ratio is presently 55.99%.

Analysts Set New Price Targets

A number of research analysts recently commented on PKG shares. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Citigroup lifted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Truist Financial restated 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. Three investment 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

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.