Heartland Advisors Inc. Sells 27,624 Shares of Packaging Co. of America (NYSE:PKG)

Heartland Advisors Inc. lowered its position in Packaging Co. of America (NYSE:PKG) by 37.9% during the 4th quarter, Holdings Channel reports. The fund owned 45,180 shares of the industrial products company’s stock after selling 27,624 shares during the period. Heartland Advisors Inc.’s holdings in Packaging Co. of America were worth $10,171,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PKG. Fortitude Family Office LLC increased its position in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares during the last quarter. Larson Financial Group LLC boosted its stake in Packaging Co. of America by 234.7% during 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 during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at about $48,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at $63,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $198.44 on Friday. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. 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 business’s fifty day moving average is $211.30 and its two-hundred day moving average is $222.10. The firm has a market cap of $17.82 billion, a P/E ratio of 22.22, a P/E/G ratio of 2.41 and a beta of 0.77.

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%. Equities research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 2.52%. Packaging Co. of America’s payout ratio is 55.99%.

Analyst Ratings Changes

PKG has been the topic of a number of recent analyst reports. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Citigroup increased their price objective on 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 reduced their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Truist Financial reissued a “buy” rating and issued 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. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average 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.