Beverly Hills Private Wealth LLC Trims Stock Position in Packaging Co. of America (NYSE:PKG)

Beverly Hills Private Wealth LLC lowered its position in Packaging Co. of America (NYSE:PKG - Free Report) by 45.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,628 shares of the industrial products company's stock after selling 7,887 shares during the period. Beverly Hills Private Wealth LLC's holdings in Packaging Co. of America were worth $2,168,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 valued at $2,571,821,000 after acquiring an additional 133,575 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $691,138,000 after buying an additional 132,836 shares in the last quarter. Geode Capital Management LLC increased its holdings in Packaging Co. of America by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock valued at $531,540,000 after buying an additional 29,427 shares in the last quarter. Invesco Ltd. boosted its position in Packaging Co. of America by 0.8% during the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock worth $417,187,000 after purchasing an additional 14,775 shares in the last quarter. Finally, Boston Partners increased its position in shares of Packaging Co. of America by 7.0% in the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock valued at $352,305,000 after buying an additional 101,755 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company reiterated an "equal weight" rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research report on Friday. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America currently has an average rating of "Moderate Buy" and a consensus price target of $226.60.

Packaging Co. of America Stock Down 1.1 %

Shares of NYSE:PKG traded down $1.95 during trading hours on Friday, reaching $181.47. The stock had a trading volume of 319,967 shares, compared to its average volume of 702,905. The stock has a market capitalization of $16.32 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 2.41 and a beta of 0.85. The firm's 50 day moving average is $191.14 and its 200-day moving average is $215.93. Packaging Co. of America has a 1 year low of $172.72 and a 1 year high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 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 business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Research analysts predict 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 will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's payout ratio is 52.30%.

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.