Dimensional Fund Advisors LP Trims Stock Position in Packaging Co. of America (NYSE:PKG)

Dimensional Fund Advisors LP decreased its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,188,029 shares of the industrial products company's stock after selling 13,061 shares during the quarter. Dimensional Fund Advisors LP owned 1.32% of Packaging Co. of America worth $267,464,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PKG. Norges Bank acquired a new position in shares of Packaging Co. of America in the fourth quarter worth $258,928,000. Raymond James Financial Inc. acquired a new position in Packaging Co. of America during the 4th quarter worth $50,175,000. Conning Inc. acquired a new position in Packaging Co. of America during the 4th quarter worth $32,329,000. Marshall Wace LLP purchased a new stake in Packaging Co. of America during the 4th quarter worth about $31,432,000. Finally, Vanguard Group Inc. raised its position in Packaging Co. of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after purchasing an additional 133,575 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PKG. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered their price target on shares of Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a report on Thursday. Truist Financial dropped their price objective on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research report on Tuesday. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Finally, Citigroup boosted 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 research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, four have issued 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 currently has a consensus rating of "Moderate Buy" and an average target price of $231.60.

Packaging Co. of America Stock Down 2.1 %

Shares of Packaging Co. of America stock traded down $3.87 during trading hours on Friday, hitting $184.84. The company had a trading volume of 679,566 shares, compared to its average volume of 697,533. The company's 50-day moving average is $196.03 and its two-hundred day moving average is $218.13. Packaging Co. of America has a twelve month low of $171.65 and a twelve month high of $250.82. 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 company has a market cap of $16.62 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

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.