Connor Clark & Lunn Investment Management Ltd. Buys Shares of 7,881 Packaging Co. of America (NYSE:PKG)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,881 shares of the industrial products company's stock, valued at approximately $1,774,000.

Other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC lifted its position in 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 purchasing an additional 98 shares during the last quarter. Larson Financial Group LLC lifted its position in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter valued at $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter valued at $48,000. Finally, Assetmark Inc. lifted its position in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PKG shares. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Truist Financial reissued a "buy" rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. 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 research note on Monday, January 6th. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and increased their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $233.00.

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Packaging Co. of America Trading Down 1.5 %

PKG stock traded down $2.88 during trading on Friday, hitting $194.30. The company had a trading volume of 2,534,955 shares, compared to its average volume of 619,281. The firm has a market capitalization of $17.45 billion, a P/E ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82. The company has a 50 day simple moving average of $214.03 and a 200-day simple moving average of $222.24. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

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 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%. As a group, research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio is presently 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.