Trek Financial LLC Trims Stake in Packaging Co. of America (NYSE:PKG)

Trek Financial LLC cut its position in shares of Packaging Co. of America (NYSE:PKG) by 9.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,369 shares of the industrial products company’s stock after selling 144 shares during the quarter. Trek Financial LLC’s holdings in Packaging Co. of America were worth $308,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Packaging Co. of America during the third quarter valued at approximately $312,000. IHT Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the 3rd quarter worth approximately $268,000. Worldquant Millennium Advisors LLC purchased a new position in Packaging Co. of America during the 3rd quarter valued at $1,467,000. Wellington Management Group LLP boosted its holdings in Packaging Co. of America by 30.0% during the 3rd quarter. Wellington Management Group LLP now owns 12,070 shares of the industrial products company’s stock valued at $2,600,000 after acquiring an additional 2,786 shares during the period. Finally, National Bank of Canada FI grew its position in Packaging Co. of America by 205.8% in the 3rd quarter. National Bank of Canada FI now owns 81,370 shares of the industrial products company’s stock valued at $17,527,000 after acquiring an additional 54,765 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PKG has been the subject of several research analyst reports. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Citigroup lifted their price objective 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. Wells Fargo & Company dropped their target price 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. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Trading Down 1.5 %

NYSE:PKG opened at $180.65 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a 50-day simple moving average of $204.73 and a 200-day simple moving average of $221.42. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The firm has a market cap of $16.25 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. Equities analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.77%. 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.