Voya Investment Management LLC Lowers Stake in Packaging Co. of America (NYSE:PKG)

Voya Investment Management LLC lessened its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 9.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,084 shares of the industrial products company's stock after selling 2,774 shares during the quarter. Voya Investment Management LLC's holdings in Packaging Co. of America were worth $6,097,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Integrated Wealth Concepts LLC boosted its position in Packaging Co. of America by 17.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 1,704 shares of the industrial products company's stock valued at $384,000 after buying an additional 254 shares during the period. Cartenna Capital LP boosted its holdings in Packaging Co. of America by 159.0% in the fourth quarter. Cartenna Capital LP now owns 246,007 shares of the industrial products company's stock valued at $55,384,000 after purchasing an additional 151,007 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Packaging Co. of America by 91.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 113,300 shares of the industrial products company's stock worth $25,507,000 after purchasing an additional 54,060 shares in the last quarter. MGO One Seven LLC increased its holdings in Packaging Co. of America by 11.8% during the 4th quarter. MGO One Seven LLC now owns 2,657 shares of the industrial products company's stock worth $598,000 after purchasing an additional 280 shares during the period. Finally, Hsbc Holdings PLC raised its position in Packaging Co. of America by 10.1% in the 4th quarter. Hsbc Holdings PLC now owns 363,089 shares of the industrial products company's stock valued at $81,732,000 after purchasing an additional 33,323 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. 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. Truist Financial dropped their price objective on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Wells Fargo & Company lowered their target price on shares of Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.60.

Packaging Co. of America Stock Down 0.5 %

Shares of Packaging Co. of America stock traded down $0.98 during trading hours on Tuesday, hitting $180.24. The company had a trading volume of 97,060 shares, compared to its average volume of 699,739. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company's 50-day moving average is $192.93 and its two-hundred day moving average is $216.68. The company has a market cap of $16.21 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.12 billion. Analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

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.