First Trust Advisors LP Has $259.02 Million Stock Position in Packaging Co. of America (NYSE:PKG)

First Trust Advisors LP cut its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,150,526 shares of the industrial products company's stock after selling 102,112 shares during the period. First Trust Advisors LP owned approximately 1.28% of Packaging Co. of America worth $259,018,000 at the end of the most recent reporting period.

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

Packaging Co. of America Stock Performance

Shares of NYSE PKG traded down $1.87 during midday trading on Wednesday, hitting $184.55. 1,694,231 shares of the company's stock were exchanged, compared to its average volume of 699,062. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company's 50 day moving average price is $197.60 and its 200 day moving average price is $218.74. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $16.60 billion, a PE ratio of 20.67, 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 for the quarter, beating the consensus estimate of $2.21 by $0.10. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is currently 55.99%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PKG shares. Wells Fargo & Company lowered their price target on shares of Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Truist Financial cut their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. 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. Finally, Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and an average target price of $232.40.

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.