Bank of New York Mellon Corp Has $180.19 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Bank of New York Mellon Corp decreased its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 800,399 shares of the industrial products company's stock after selling 67,843 shares during the period. Bank of New York Mellon Corp owned about 0.89% of Packaging Co. of America worth $180,194,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. SYM FINANCIAL Corp boosted its stake in Packaging Co. of America by 3.1% during the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company's stock valued at $316,000 after purchasing an additional 42 shares during the period. Mather Group LLC. lifted its holdings in shares of Packaging Co. of America by 1.7% during the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock worth $582,000 after buying an additional 43 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Packaging Co. of America by 3.9% in the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company's stock valued at $262,000 after acquiring an additional 44 shares during the period. Deseret Mutual Benefit Administrators grew its stake in shares of Packaging Co. of America by 15.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company's stock worth $80,000 after acquiring an additional 49 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in Packaging Co. of America by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company's stock worth $370,000 after acquiring an additional 52 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PKG. Jefferies Financial Group raised shares of 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 report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Citigroup boosted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Truist Financial reissued a "buy" rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America has a consensus rating of "Moderate Buy" and a consensus target price of $233.00.

Packaging Co. of America Price Performance

NYSE PKG traded down $3.70 during trading on Monday, reaching $209.39. 536,735 shares of the company traded hands, compared to its average volume of 899,250. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. 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's 50 day moving average price is $222.19 and its two-hundred day moving average price is $222.81. The company has a market cap of $18.80 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results 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 net margin of 9.60% and a return on equity of 19.67%. As a group, analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is currently 55.99%.

Insider Activity at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company's stock, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

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.