USS Investment Management Ltd Sells 11,774 Shares of Packaging Co. of America (NYSE:PKG)

USS Investment Management Ltd trimmed its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 30.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,303 shares of the industrial products company's stock after selling 11,774 shares during the quarter. USS Investment Management Ltd's holdings in Packaging Co. of America were worth $5,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PKG. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America during the fourth quarter worth about $44,000. Lazard Asset Management LLC raised its position in shares of Packaging Co. of America by 1,033.3% during the fourth 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 during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America during the fourth quarter worth about $48,000. Rialto Wealth Management LLC bought a new position in shares of Packaging Co. of America during the fourth quarter worth about $63,000. Finally, Intact Investment Management Inc. bought a new position in shares of Packaging Co. of America during the fourth quarter worth about $68,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Trading Up 0.9%

Shares of PKG stock opened at $192.48 on Friday. 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 has a fifty-two week low of $172.72 and a fifty-two week high of $250.82. The stock has a 50 day simple moving average of $189.33 and a two-hundred day simple moving average of $213.44. The company has a market cap of $17.32 billion, a P/E ratio of 21.55, a PEG ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced 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 firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.60%. Packaging Co. of America's dividend payout ratio (DPR) is presently 52.30%.

Wall Street Analysts Forecast Growth

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

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.

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