Skandinaviska Enskilda Banken AB publ Sells 21,250 Shares of Packaging Co. of America (NYSE:PKG)

Skandinaviska Enskilda Banken AB publ decreased its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 27.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,076 shares of the industrial products company's stock after selling 21,250 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.06% of Packaging Co. of America worth $12,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC boosted its position in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after acquiring an additional 115 shares during the period. Fortitude Family Office LLC boosted its position in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth about $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth about $48,000. Finally, Assetmark Inc. boosted its position in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

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Packaging Co. of America Stock Performance

Shares of PKG stock traded up $0.73 during trading on Wednesday, reaching $198.34. The company had a trading volume of 811,290 shares, compared to its average volume of 938,644. The firm's 50 day simple moving average is $215.91 and its two-hundred day simple moving average is $222.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The company has a market capitalization of $17.81 billion, a PE ratio of 22.21, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. Sell-side analysts forecast 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. Investors of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PKG. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Citigroup raised their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Truist Financial reaffirmed a "buy" rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, Wells Fargo & Company cut their price target on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $233.00.

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.