Envestnet Asset Management Inc. Trims Position in Packaging Co. of America (NYSE:PKG)

Envestnet Asset Management Inc. decreased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 2.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 243,716 shares of the industrial products company’s stock after selling 6,107 shares during the period. Envestnet Asset Management Inc. owned 0.27% of Packaging Co. of America worth $54,868,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PKG. Vanguard Group Inc. boosted its holdings in shares of Packaging Co. of America by 1.2% in the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $691,138,000 after buying an additional 132,836 shares during the last quarter. Geode Capital Management LLC raised its position in Packaging Co. of America by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock worth $531,540,000 after buying an additional 29,427 shares during the last quarter. Boston Partners raised its position in Packaging Co. of America by 7.0% during the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock worth $352,305,000 after buying an additional 101,755 shares during the last quarter. Finally, Norges Bank purchased a new position in Packaging Co. of America during the 4th quarter worth approximately $258,928,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 7.7 %

NYSE PKG opened at $189.48 on Thursday. The business has a 50 day moving average price of $201.72 and a two-hundred day moving average price of $220.45. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The stock has a market cap of $17.04 billion, a PE ratio of 21.22, a P/E/G ratio of 2.41 and a beta of 0.84. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

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

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PKG. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup boosted their price target on shares of 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. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $228.50.

Packaging Co. of America 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.