Northwest & Ethical Investments L.P. Sells 27,179 Shares of Packaging Co. of America (NYSE:PKG)

Northwest & Ethical Investments L.P. lowered its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 60.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,926 shares of the industrial products company's stock after selling 27,179 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Packaging Co. of America were worth $4,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp raised 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 valued at $855,212,000 after purchasing an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 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 valued at $691,138,000 after buying an additional 132,836 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 worth $501,896,000 after buying an additional 12,936 shares in the last quarter. Boston Partners boosted its stake in shares of Packaging Co. of America by 7.0% during the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock worth $352,305,000 after buying an additional 101,755 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Packaging Co. of America by 3.4% during the 3rd quarter. FMR LLC now owns 1,076,350 shares of the industrial products company's stock worth $231,846,000 after buying an additional 35,827 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

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Analyst Upgrades and Downgrades

PKG has been the topic of several analyst reports. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and upped their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Wells Fargo & Company cut their price objective on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Truist Financial reissued a "buy" rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Citigroup raised their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $233.00.

Packaging Co. of America Stock Performance

Shares of NYSE PKG traded down $2.19 during trading hours on Tuesday, reaching $198.62. 999,426 shares of the stock were exchanged, compared to its average volume of 620,896. The stock's fifty day simple moving average is $213.43 and its 200 day simple moving average is $222.45. The firm has a market capitalization of $17.84 billion, a price-to-earnings ratio of 22.24, a P/E/G 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 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 (NYSE:PKG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 19.67% and a net margin of 9.60%. Sell-side analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio is currently 55.99%.

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.