Moran Wealth Management LLC Sells 2,150 Shares of Packaging Co. of America (NYSE:PKG)

Moran Wealth Management LLC lessened its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,642 shares of the industrial products company's stock after selling 2,150 shares during the period. Moran Wealth Management LLC owned approximately 0.09% of Packaging Co. of America worth $17,705,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PKG. Larson Financial Group LLC raised its position in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of 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 worth $37,000 after buying an additional 98 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $44,000. Golden State Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $48,000. Finally, Assetmark Inc. increased its holdings in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after buying an additional 83 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

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Wall Street Analysts Forecast Growth

PKG has been the subject of several recent analyst reports. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Truist Financial reissued a "buy" rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Wells Fargo & Company decreased their price target 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. Citigroup increased their price target 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. Finally, 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. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.00.

Packaging Co. of America Trading Down 0.0 %

PKG stock traded down $0.10 during midday trading on Wednesday, reaching $197.35. The company's stock had a trading volume of 686,739 shares, compared to its average volume of 616,163. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The stock has a market cap of $17.72 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. 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 business's 50-day simple moving average is $218.29 and its 200-day simple moving average is $222.85.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.53%. Packaging Co. of America's dividend payout ratio is 55.99%.

Packaging Co. of America 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.