Norman Fields Gottscho Capital Management LLC Sells 1,874 Shares of Packaging Co. of America (NYSE:PKG)

Norman Fields Gottscho Capital Management LLC reduced its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,925 shares of the industrial products company's stock after selling 1,874 shares during the quarter. Packaging Co. of America comprises 2.4% of Norman Fields Gottscho Capital Management LLC's holdings, making the stock its 12th largest holding. Norman Fields Gottscho Capital Management LLC's holdings in Packaging Co. of America were worth $7,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America in the 4th quarter worth about $44,000. Lazard Asset Management LLC raised its position in shares of Packaging Co. of America by 1,033.3% in the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock worth $45,000 after acquiring an additional 186 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America in the 4th quarter worth about $48,000. Rialto Wealth Management LLC bought a new position in shares of Packaging Co. of America in the 4th quarter worth about $63,000. Finally, Ameriflex Group Inc. bought a new position in shares of Packaging Co. of America in the 4th quarter worth about $64,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Up 0.0%

PKG stock traded up $0.02 during trading on Friday, reaching $193.02. 1,062,503 shares of the stock were exchanged, compared to its average volume of 724,198. The firm's 50 day moving average is $188.67 and its 200 day moving average is $211.49. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82. 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 market cap of $17.37 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted 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 business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. As a group, research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's dividend payout ratio (DPR) is currently 52.30%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PKG shares. Truist Financial lowered their price objective on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company reissued an "equal weight" rating and issued a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Finally, Wall Street Zen lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $226.60.

Packaging Co. of America 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.