Price T Rowe Associates Inc. MD Has $255.39 Million Position in Packaging Co. of America (NYSE:PKG)

Price T Rowe Associates Inc. MD lessened its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,134,398 shares of the industrial products company's stock after selling 34,980 shares during the period. Price T Rowe Associates Inc. MD owned 1.26% of Packaging Co. of America worth $255,389,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hsbc Holdings PLC boosted its stake in Packaging Co. of America by 10.1% during the fourth quarter. Hsbc Holdings PLC now owns 363,089 shares of the industrial products company's stock valued at $81,732,000 after buying an additional 33,323 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Packaging Co. of America by 80.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,310 shares of the industrial products company's stock valued at $2,321,000 after buying an additional 4,581 shares during the period. MML Investors Services LLC grew its stake in Packaging Co. of America by 30.0% in the fourth quarter. MML Investors Services LLC now owns 22,209 shares of the industrial products company's stock valued at $5,000,000 after purchasing an additional 5,123 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Packaging Co. of America by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 23,590 shares of the industrial products company's stock valued at $5,311,000 after buying an additional 416 shares in the last quarter. Finally, Natixis grew its position in Packaging Co. of America by 32.1% in the fourth quarter. Natixis now owns 56,267 shares of the industrial products company's stock worth $12,667,000 after acquiring an additional 13,677 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Co. of America Trading Down 0.1 %

PKG stock traded down $0.26 during midday trading on Tuesday, reaching $186.13. The stock had a trading volume of 719,912 shares, compared to its average volume of 699,089. The business has a fifty day simple moving average of $195.52 and a two-hundred day simple moving average of $217.93. Packaging Co. of America has a twelve month low of $172.37 and a twelve month high of $250.82. The firm has a market cap of $16.74 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.41 and a beta of 0.84. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

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 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, research analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 52.30%.

Analyst Ratings Changes

PKG has been the subject of a number of recent research reports. Citigroup upped their target price on 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. 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. Truist Financial decreased their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.60.

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.