Packaging Co. of America (NYSE:PKG) Stake Lessened by First Trust Advisors LP

First Trust Advisors LP decreased its position in Packaging Co. of America (NYSE:PKG - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,150,526 shares of the industrial products company's stock after selling 102,112 shares during the period. First Trust Advisors LP owned about 1.28% of Packaging Co. of America worth $259,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fortitude Family Office LLC lifted its stake in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after purchasing an additional 98 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth approximately $44,000. Golden State Wealth Management LLC bought a new stake in Packaging Co. of America during the 4th quarter valued at $48,000. Rialto Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth about $63,000. Finally, Intact Investment Management Inc. purchased a new position in Packaging Co. of America during the 4th quarter valued at about $68,000. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Down 2.1 %

PKG stock traded down $4.01 during trading on Friday, hitting $184.70. 244,142 shares of the company's stock traded hands, compared to its average volume of 962,854. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $16.61 billion, a P/E ratio of 20.68, a PEG ratio of 2.41 and a beta of 0.84. The business has a fifty day simple moving average of $196.58 and a two-hundred day simple moving average of $218.34. Packaging Co. of America has a 1 year low of $171.65 and a 1 year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.71%. Packaging Co. of America's payout ratio is currently 52.30%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PKG. Wells Fargo & Company reduced their target price on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating on the stock in a report on Thursday. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Truist Financial lowered their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a report on Tuesday. Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and an average price target of $231.60.

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.