Packaging Co. of America (NYSE:PKG) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its stake in Packaging Co. of America (NYSE:PKG) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,861 shares of the industrial products company’s stock after selling 83 shares during the quarter. Pitcairn Co.’s holdings in Packaging Co. of America were worth $644,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PKG. Fortitude Family Office LLC boosted its stake 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 acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth $44,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth $48,000. Rialto Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $63,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $68,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Down 3.2 %

Shares of NYSE:PKG opened at $183.04 on Friday. The company has a market capitalization of $16.46 billion, a price-to-earnings ratio of 20.50, a PEG 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 business has a 50-day moving average price of $205.91 and a 200 day moving average price of $221.54. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its quarterly 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 net margin of 9.60% and a return on equity of 19.67%. Sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.73%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PKG shares. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup lifted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Wells Fargo & Company dropped their price objective on shares of 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. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.