Skandinaviska Enskilda Banken AB publ Has $12.84 Million Stake in Packaging Co. of America (NYSE:PKG)

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 27.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 57,076 shares of the industrial products company's stock after selling 21,250 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.06% of Packaging Co. of America worth $12,840,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PKG. Erste Asset Management GmbH lifted its holdings in shares of Packaging Co. of America by 19.8% during the fourth quarter. Erste Asset Management GmbH now owns 36,060 shares of the industrial products company's stock valued at $8,189,000 after purchasing an additional 5,960 shares during the last quarter. Achmea Investment Management B.V. raised its holdings in Packaging Co. of America by 19.3% during the 4th quarter. Achmea Investment Management B.V. now owns 26,139 shares of the industrial products company's stock worth $5,885,000 after buying an additional 4,237 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Packaging Co. of America during the fourth quarter valued at about $1,774,000. Avantax Advisory Services Inc. boosted its holdings in shares of Packaging Co. of America by 3.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 17,396 shares of the industrial products company's stock worth $3,916,000 after buying an additional 624 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Packaging Co. of America by 19.0% in the fourth quarter. Farther Finance Advisors LLC now owns 703 shares of the industrial products company's stock worth $158,000 after acquiring an additional 112 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several equities research analysts recently commented on PKG shares. Wells Fargo & Company reduced their price target on shares of 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. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Truist Financial reiterated a "buy" rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price objective for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Citigroup lifted 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. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $233.00.

Packaging Co. of America Stock Down 0.6 %

PKG traded down $1.15 during trading on Tuesday, reaching $197.37. 563,312 shares of the stock traded hands, compared to its average volume of 614,149. 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 fifty-two week low of $169.00 and a fifty-two week high of $250.82. The stock's 50-day simple moving average is $215.91 and its two-hundred day simple moving average is $222.69. The stock has a market cap of $17.72 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.

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 the consensus estimate 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%. As a group, equities research analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. Packaging Co. of America's dividend payout ratio (DPR) is 55.99%.

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.