Lmcg Investments LLC Sells 5,721 Shares of Packaging Co. of America (NYSE:PKG)

Lmcg Investments LLC cut its position in Packaging Co. of America (NYSE:PKG - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,984 shares of the industrial products company's stock after selling 5,721 shares during the period. Lmcg Investments LLC owned about 0.06% of Packaging Co. of America worth $11,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Advisory Partners LLC raised its stake in Packaging Co. of America by 5.5% during the 1st quarter. Financial Advisory Partners LLC now owns 12,555 shares of the industrial products company's stock worth $2,486,000 after buying an additional 651 shares during the period. Romano Brothers AND Company raised its position in shares of Packaging Co. of America by 1.9% during the first quarter. Romano Brothers AND Company now owns 4,895 shares of the industrial products company's stock worth $969,000 after purchasing an additional 90 shares during the period. Crestmont Private Wealth LLC lifted its holdings in shares of Packaging Co. of America by 9.9% during the 1st quarter. Crestmont Private Wealth LLC now owns 1,483 shares of the industrial products company's stock valued at $294,000 after purchasing an additional 134 shares in the last quarter. Unigestion Holding SA lifted its holdings in shares of Packaging Co. of America by 12.8% during the 1st quarter. Unigestion Holding SA now owns 68,653 shares of the industrial products company's stock valued at $13,584,000 after purchasing an additional 7,800 shares in the last quarter. Finally, RFG Advisory LLC acquired a new position in shares of Packaging Co. of America in the 1st quarter valued at approximately $223,000. 89.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PKG shares. Truist Financial dropped their target price 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, April 22nd. UBS Group started coverage on shares of Packaging Co. of America in a research report on Wednesday. They issued a "neutral" rating and a $200.00 price objective on the stock. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Finally, Wall Street Zen cut Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $222.17.

Packaging Co. of America Stock Performance

Shares of PKG traded up $1.77 during midday trading on Friday, reaching $196.47. The stock had a trading volume of 703,863 shares, compared to its average volume of 730,571. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $188.33 and a 200-day simple moving average of $210.30. The firm has a market cap of $17.68 billion, a PE ratio of 22.00, a P/E/G ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a one year low of $172.72 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.12 billion. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's dividend payout ratio is 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.