Packaging Co. of America (NYSE:PKG) Position Reduced by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lessened its position in Packaging Co. of America (NYSE:PKG - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,444 shares of the industrial products company's stock after selling 1,377 shares during the period. Nikko Asset Management Americas Inc.'s holdings in Packaging Co. of America were worth $2,126,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Stifel Financial Corp increased its position in Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock worth $123,440,000 after purchasing an additional 536,389 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Packaging Co. of America during the fourth quarter worth approximately $50,175,000. Conning Inc. acquired a new position in Packaging Co. of America during the fourth quarter worth approximately $32,329,000. Two Sigma Advisers LP increased its position in Packaging Co. of America by 218.1% during the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company's stock worth $44,739,000 after purchasing an additional 142,400 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock worth $691,138,000 after purchasing an additional 132,836 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

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Packaging Co. of America Stock Up 0.6 %

Shares of PKG stock traded up $1.14 on Wednesday, hitting $198.75. The stock had a trading volume of 196,078 shares, compared to its average volume of 612,264. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 2.41 and a beta of 0.77. The stock's 50 day moving average is $215.91 and its 200-day moving average is $222.69. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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, research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.52%. Packaging Co. of America's dividend payout ratio (DPR) is 55.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Finally, Truist Financial reissued a "buy" rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.00.

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.