Dimensional Fund Advisors LP Sells 13,061 Shares of Packaging Co. of America (NYSE:PKG)

Dimensional Fund Advisors LP reduced its position in Packaging Co. of America (NYSE:PKG) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,188,029 shares of the industrial products company’s stock after selling 13,061 shares during the period. Dimensional Fund Advisors LP’s holdings in Packaging Co. of America were worth $267,464,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Packaging Co. of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock valued at $2,571,821,000 after buying an additional 133,575 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Packaging Co. of America by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after purchasing an additional 132,836 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Packaging Co. of America by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock worth $531,540,000 after purchasing an additional 29,427 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Packaging Co. of America by 0.8% in the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock valued at $417,187,000 after purchasing an additional 14,775 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Packaging Co. of America by 7.0% during the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock valued at $352,305,000 after buying an additional 101,755 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PKG shares. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company reduced their target price on Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. 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. Finally, Citigroup lifted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $237.80.

Packaging Co. of America Trading Down 2.7 %

Shares of Packaging Co. of America stock opened at $182.08 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 stock has a market capitalization of $16.37 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82. The stock’s 50-day simple moving average is $198.12 and its 200 day simple moving average is $218.97.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data 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%. As a group, research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.75%. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

About Packaging Co. of America

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.