Skba Capital Management LLC Reduces Stock Position in Packaging Co. of America (NYSE:PKG)

Skba Capital Management LLC reduced its position in Packaging Co. of America (NYSE:PKG - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,685 shares of the industrial products company's stock after selling 7,010 shares during the period. Skba Capital Management LLC's holdings in Packaging Co. of America were worth $9,385,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC lifted its stake in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after buying an additional 115 shares in the last quarter. Fortitude Family Office LLC lifted its position in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 98 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter valued at about $44,000. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America during the 4th quarter valued at about $48,000. Finally, Rialto Wealth Management LLC bought a new stake in Packaging Co. of America during the 4th quarter worth approximately $63,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PKG shares. Truist Financial reaffirmed a "buy" rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company reduced their target price on shares of 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. Citigroup raised their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $233.00.

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Packaging Co. of America Stock Performance

PKG stock traded up $1.53 during mid-day trading on Wednesday, hitting $201.46. The company had a trading volume of 680,063 shares, compared to its average volume of 673,210. 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 firm has a market cap of $18.09 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The stock's fifty day moving average price is $208.82 and its two-hundred day moving average price is $222.13.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company 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 of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.48%. Packaging Co. of America's payout ratio is 55.99%.

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.