Pinebridge Investments L.P. Lowers Position in Packaging Co. of America (NYSE:PKG)

Pinebridge Investments L.P. decreased its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,258 shares of the industrial products company's stock after selling 2,502 shares during the quarter. Pinebridge Investments L.P.'s holdings in Packaging Co. of America were worth $9,514,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC lifted its position in 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 valued at $37,000 after purchasing an additional 98 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter worth $44,000. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter worth $48,000. Rialto Wealth Management LLC purchased a new position in Packaging Co. of America in the fourth quarter worth $63,000. Finally, Intact Investment Management Inc. bought a new position in Packaging Co. of America in the fourth quarter valued at $68,000. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PKG shares. Truist Financial dropped their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research note on Tuesday. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Wells Fargo & Company reduced their price target on shares of Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating on the stock in a research report on Thursday. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Finally, Citigroup increased their target price 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 analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $231.60.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $189.15 on Friday. The company has a market capitalization of $17.01 billion, a P/E ratio of 21.18, a PEG ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a fifty-two week low of $169.79 and a fifty-two 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. The stock has a 50 day moving average price of $196.58 and a two-hundred day moving average price of $218.34.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.64%. Packaging Co. of America's dividend payout ratio (DPR) is presently 52.30%.

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.

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