Heartland Advisors Inc. Lowers Stock Position in Packaging Co. of America (NYSE:PKG)

Heartland Advisors Inc. decreased its position in Packaging Co. of America (NYSE:PKG - Free Report) by 37.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,180 shares of the industrial products company's stock after selling 27,624 shares during the quarter. Heartland Advisors Inc. owned 0.05% of Packaging Co. of America worth $10,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in Packaging Co. of America by 1.2% in 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 purchasing an additional 133,575 shares during the last quarter. State Street Corp grew its stake in shares of Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock worth $855,212,000 after buying an additional 123,050 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Packaging Co. of America by 4.5% in 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 buying an additional 132,836 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Packaging Co. of America by 0.6% during 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 buying an additional 12,936 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Packaging Co. of America by 7.0% in the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock valued at $352,305,000 after acquiring an additional 101,755 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

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Packaging Co. of America Trading Up 0.5 %

Shares of NYSE PKG traded up $1.09 during mid-day trading on Tuesday, reaching $199.11. The company had a trading volume of 192,544 shares, compared to its average volume of 670,201. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth 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 business's 50-day moving average is $209.67 and its 200-day moving average is $222.21. 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 issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts' consensus estimates 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%. Equities analysts expect that Packaging Co. of America will post 10.44 earnings per share 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. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio is 55.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PKG shares. Truist Financial reissued a "buy" rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group upgraded 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. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup boosted 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 research report on Monday, January 6th. Finally, Wells Fargo & Company lowered their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.

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.