Stifel Financial Corp Has $124.45 Million Stake in Packaging Co. of America (NYSE:PKG)

Stifel Financial Corp trimmed its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 552,791 shares of the industrial products company's stock after selling 20,282 shares during the period. Stifel Financial Corp owned approximately 0.62% of Packaging Co. of America worth $124,450,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Fortitude Family Office LLC boosted 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 buying an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America in the fourth quarter valued at about $48,000. Rialto Wealth Management LLC bought a new position in Packaging Co. of America in the fourth quarter valued at about $63,000. Finally, Intact Investment Management Inc. acquired a new stake in Packaging Co. of America in the fourth quarter worth about $68,000. 89.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PKG. Wells Fargo & Company reduced their target price 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. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Citigroup upped their target price 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. Truist Financial reduced 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 report on Tuesday. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.60.

Packaging Co. of America Trading Down 2.1 %

Shares of PKG stock traded down $3.87 on Friday, hitting $184.84. The stock had a trading volume of 679,566 shares, compared to its average volume of 696,912. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $169.79 and a twelve month high of $250.82. The company has a fifty day moving average price of $196.58 and a two-hundred day moving average price of $218.34. The firm has a market cap of $16.62 billion, a P/E ratio of 20.70, a PEG ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. As a group, 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 business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.71%. Packaging Co. of America's dividend payout ratio (DPR) is currently 52.30%.

Packaging Co. of America Company 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.