Arrowstreet Capital Limited Partnership Sells 22,496 Shares of Packaging Co. of America (NYSE:PKG)

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 10.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,024 shares of the industrial products company's stock after selling 22,496 shares during the period. Arrowstreet Capital Limited Partnership owned 0.21% of Packaging Co. of America worth $43,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PKG. Fortitude Family Office LLC increased its stake in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after buying an additional 98 shares during the period. Centricity Wealth Management LLC purchased a new position in Packaging Co. of America during the 4th quarter valued at $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter worth $48,000. Rialto Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $63,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at about $68,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PKG. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Saturday, March 29th. 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 issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Citigroup raised their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and upped their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Packaging Co. of America presently has an average rating of "Moderate Buy" and an average target price of $233.00.

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Packaging Co. of America Stock Down 6.1 %

NYSE:PKG traded down $12.24 during trading hours on Thursday, reaching $189.13. 1,537,148 shares of the company traded hands, compared to its average volume of 678,871. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The business's 50-day moving average price is $207.05 and its two-hundred day moving average price is $221.76. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The stock has a market capitalization of $17.01 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted 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%. Analysts predict that Packaging Co. of America will post 10.44 earnings per share 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 issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.

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.