Rockefeller Capital Management L.P. Lowers Position in Packaging Co. of America (NYSE:PKG)

Rockefeller Capital Management L.P. cut its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 25.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,303 shares of the industrial products company's stock after selling 22,819 shares during the period. Rockefeller Capital Management L.P. owned about 0.07% of Packaging Co. of America worth $14,694,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PKG. Vanguard Group Inc. grew its holdings in Packaging Co. of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after purchasing an additional 133,575 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Packaging Co. of America by 4.5% during 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 grew its stake in shares of Packaging Co. of America by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock worth $531,540,000 after acquiring an additional 29,427 shares during the period. Invesco Ltd. increased its holdings in Packaging Co. of America by 0.8% in the 4th quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock worth $417,187,000 after acquiring an additional 14,775 shares during the last quarter. Finally, Boston Partners raised its stake in Packaging Co. of America by 7.0% in the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock valued at $352,305,000 after acquiring an additional 101,755 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 0.2 %

Shares of PKG stock traded up $0.33 during mid-day trading on Friday, reaching $187.07. The stock had a trading volume of 506,804 shares, compared to its average volume of 698,273. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock's 50-day moving average price is $198.99 and its two-hundred day moving average price is $219.29. The firm has a market capitalization of $16.82 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. 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 quarterly earnings results 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%. Equities analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Citigroup lifted 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 report on Monday, January 6th. Wells Fargo & Company cut their target price on Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial reaffirmed a "buy" rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $237.80.

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.