LPL Financial LLC Sells 564 Shares of Packaging Co. of America (NYSE:PKG)

LPL Financial LLC trimmed its position in Packaging Co. of America (NYSE:PKG) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,071 shares of the industrial products company’s stock after selling 564 shares during the period. LPL Financial LLC owned approximately 0.13% of Packaging Co. of America worth $26,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp increased its holdings in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after acquiring an additional 536,389 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Packaging Co. of America during the 4th quarter valued at $50,175,000. Conning Inc. bought a new position in shares of Packaging Co. of America in the fourth quarter valued at $32,329,000. Two Sigma Advisers LP grew its holdings in shares of Packaging Co. of America by 218.1% during the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after buying an additional 142,400 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after acquiring an additional 132,836 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Trading Down 1.4 %

NYSE PKG opened at $195.40 on Friday. The business’s fifty day moving average is $210.46 and its 200-day moving average is $222.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced 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%. Equities research analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Citigroup increased their target price 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. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average target price of $233.00.

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.