Packaging Co. of America (NYSE:PKG) Holdings Decreased by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. reduced its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 23.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,029 shares of the industrial products company's stock after selling 61,936 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.23% of Packaging Co. of America worth $46,609,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. SYM FINANCIAL Corp lifted its holdings in shares of Packaging Co. of America by 3.1% in the 4th 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 period. Mather Group LLC. raised its holdings in 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 worth $582,000 after purchasing an additional 43 shares during the last quarter. UMB Bank n.a. raised its holdings in 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 worth $262,000 after purchasing an additional 44 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in 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 worth $312,000 after purchasing an additional 52 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its holdings in 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 worth $370,000 after purchasing an additional 52 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Wells Fargo & Company lowered their price objective on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Citigroup lifted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Truist Financial lowered their price objective on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $231.60.

Packaging Co. of America Stock Down 1.3 %

NYSE PKG traded down $2.34 on Thursday, reaching $183.27. The company had a trading volume of 715,939 shares, compared to its average volume of 699,022. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1 year low of $172.37 and a 1 year high of $250.82. The firm has a 50-day moving average of $194.60 and a 200-day moving average of $217.49. The firm has a market capitalization of $16.48 billion, a PE ratio of 20.52, a P/E/G ratio of 2.41 and a beta of 0.84.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The company 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, equities research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America's dividend payout ratio is presently 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.