Millennium Management LLC Sells 495,124 Shares of Packaging Co. of America (NYSE:PKG)

Millennium Management LLC trimmed its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 44.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 619,543 shares of the industrial products company's stock after selling 495,124 shares during the quarter. Millennium Management LLC owned about 0.69% of Packaging Co. of America worth $139,478,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. SYM FINANCIAL Corp grew its holdings in shares of Packaging Co. of America by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company's stock valued at $316,000 after buying an additional 42 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Packaging Co. of America by 1.7% during the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock valued at $582,000 after buying an additional 43 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Packaging Co. of America by 3.9% during the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company's stock valued at $262,000 after buying an additional 44 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in shares of Packaging Co. of America by 3.9% during the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company's stock valued at $312,000 after buying an additional 52 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its holdings in shares of Packaging Co. of America by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company's stock valued at $370,000 after buying an additional 52 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Performance

PKG stock traded up $3.58 during mid-day trading on Friday, hitting $194.33. The company had a trading volume of 829,408 shares, compared to its average volume of 716,004. The firm has a market cap of $17.49 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. 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 12 month low of $172.72 and a 12 month high of $250.82. The stock's fifty day moving average price is $189.59 and its two-hundred day moving average price is $214.45.

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, topping the consensus estimate of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's dividend payout ratio (DPR) is currently 52.30%.

Analyst Ratings Changes

Several research analysts recently weighed in on PKG shares. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Truist Financial cut 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 report on Tuesday, April 22nd. Three research 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.