Stifel Financial Corp Sells 20,282 Shares of Packaging Co. of America (NYSE:PKG)

Stifel Financial Corp cut its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 552,791 shares of the industrial products company's stock after selling 20,282 shares during the period. Stifel Financial Corp owned about 0.62% of Packaging Co. of America worth $124,450,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jackson Creek Investment Advisors LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $293,000. AlphaQuest LLC raised its holdings in shares of Packaging Co. of America by 25.3% in the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock worth $2,180,000 after buying an additional 1,954 shares in the last quarter. Distillate Capital Partners LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $15,828,000. Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $6,966,000. Finally, Sciencast Management LP acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $2,853,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Trading Down 2.1 %

PKG traded down $3.87 during mid-day trading on Friday, reaching $184.84. The stock had a trading volume of 679,566 shares, compared to its average volume of 698,337. Packaging Co. of America has a 52 week low of $172.37 and a 52 week high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a market capitalization of $16.62 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.41 and a beta of 0.84. The firm's fifty day simple moving average is $196.03 and its two-hundred day simple moving average is $218.15.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. On average, equities analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

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

Analysts Set New Price Targets

PKG has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a report on Thursday. Citigroup raised their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Truist Financial dropped their price target 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. Finally, StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Two equities 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $231.60.

Packaging Co. of America Company 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.