Schonfeld Strategic Advisors LLC Trims Stock Position in Packaging Co. of America (NYSE:PKG)

Schonfeld Strategic Advisors LLC lowered its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 96.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,474 shares of the industrial products company's stock after selling 96,840 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Packaging Co. of America were worth $782,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PKG. Fortitude Family Office LLC increased its holdings in shares of 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 buying an additional 98 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $44,000. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $48,000. Rialto Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $63,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Trading Up 5.0%

Shares of NYSE:PKG traded up $9.00 during trading on Monday, reaching $190.42. The company's stock had a trading volume of 1,127,779 shares, compared to its average volume of 708,725. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82. The firm's 50 day simple moving average is $190.72 and its two-hundred day simple moving average is $215.51. The stock has a market capitalization of $17.12 billion, a PE ratio of 21.32, 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 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. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. On average, research analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's dividend payout ratio (DPR) is currently 52.30%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PKG. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday. Truist Financial reduced 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, April 22nd. StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.