Wells Fargo & Company MN Sells 10,082 Shares of Packaging Co. of America (NYSE:PKG)

Wells Fargo & Company MN decreased its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 392,195 shares of the industrial products company's stock after selling 10,082 shares during the period. Wells Fargo & Company MN owned about 0.44% of Packaging Co. of America worth $88,295,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new position in Packaging Co. of America in the fourth quarter valued at about $258,928,000. Raymond James Financial Inc. acquired a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $50,175,000. Conning Inc. bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $32,329,000. Vanguard Group Inc. increased its holdings in Packaging Co. of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock worth $2,571,821,000 after buying an additional 133,575 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock valued at $691,138,000 after acquiring an additional 132,836 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

Packaging Co. of America stock traded up $3.50 on Friday, reaching $188.95. 830,656 shares of the stock were exchanged, compared to its average volume of 698,863. 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. The firm has a fifty day moving average price of $200.77 and a two-hundred day moving average price of $220.10. The stock has a market cap of $16.99 billion, a PE ratio of 21.16, a PEG ratio of 2.41 and a beta of 0.84.

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Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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%. Sell-side analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.65%. Packaging Co. of America's payout ratio is 55.99%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PKG. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Citigroup boosted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price objective on Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.80.

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.