Wakefield Asset Management LLLP Buys Shares of 17,444 Packaging Co. of America (NYSE:PKG)

Wakefield Asset Management LLLP acquired a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,444 shares of the industrial products company's stock, valued at approximately $3,927,000. Packaging Co. of America makes up 1.3% of Wakefield Asset Management LLLP's investment portfolio, making the stock its 21st largest holding.

Several other large investors also recently made changes to their positions in PKG. QRG Capital Management Inc. grew its holdings in Packaging Co. of America by 16.0% during the fourth quarter. QRG Capital Management Inc. now owns 89,380 shares of the industrial products company's stock worth $20,122,000 after purchasing an additional 12,305 shares during the period. Versor Investments LP acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at $1,621,000. Proficio Capital Partners LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at about $25,291,000. Oppenheimer & Co. Inc. raised its position in shares of Packaging Co. of America by 86.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 3,651 shares of the industrial products company's stock valued at $822,000 after purchasing an additional 1,691 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in shares of Packaging Co. of America by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 35,200 shares of the industrial products company's stock worth $7,925,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Citigroup boosted 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. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Finally, StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Two investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.00.

Packaging Co. of America Price Performance

Packaging Co. of America stock traded down $7.00 during trading hours on Tuesday, reaching $202.41. 695,193 shares of the stock were exchanged, compared to its average volume of 903,238. The stock has a 50 day moving average of $221.83 and a two-hundred day moving average of $222.91. The company has a market cap of $18.18 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. 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 $169.00 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 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%. Equities analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's dividend payout ratio is presently 55.99%.

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.