Packaging Co. of America (NYSE:PKG) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC cut its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,891 shares of the industrial products company's stock after selling 1,929 shares during the quarter. Cannell & Spears LLC owned about 0.06% of Packaging Co. of America worth $11,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PKG. Vanguard Group Inc. boosted its stake in Packaging Co. of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock worth $2,571,821,000 after buying an additional 133,575 shares during the period. State Street Corp boosted its position in shares of Packaging Co. of America by 3.2% during the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock worth $855,212,000 after purchasing an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 132,836 shares during the period. Geode Capital Management LLC increased its holdings in Packaging Co. of America by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company's stock valued at $501,896,000 after purchasing an additional 12,936 shares during the last quarter. Finally, Boston Partners raised its position in Packaging Co. of America by 7.0% in the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock valued at $352,305,000 after purchasing an additional 101,755 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

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Packaging Co. of America Stock Up 0.8 %

NYSE:PKG traded up $1.53 during mid-day trading on Wednesday, hitting $201.46. The stock had a trading volume of 680,063 shares, compared to its average volume of 673,210. The company has a market capitalization of $18.09 billion, a PE ratio of 22.56, a PEG ratio of 2.41 and a beta of 0.77. The stock has a 50-day simple moving average of $208.82 and a two-hundred day simple moving average of $222.13. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. 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 - Get Free Report) last released its quarterly earnings data 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%. On average, equities research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.48%. Packaging Co. of America's payout ratio is currently 55.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PKG shares. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company lowered 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 research note on Thursday, January 30th. Truist Financial reaffirmed a "buy" rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note 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 stock a "neutral" rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.00.

About Packaging Co. of America

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.