Packaging Co. of America (NYSE:PKG) Shares Sold by Front Row Advisors LLC

Front Row Advisors LLC reduced its holdings in shares of Packaging Co. of America (NYSE:PKG) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,849 shares of the industrial products company’s stock after selling 60 shares during the quarter. Packaging Co. of America makes up 1.3% of Front Row Advisors LLC’s investment portfolio, making the stock its 17th largest position. Front Row Advisors LLC’s holdings in Packaging Co. of America were worth $3,793,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PKG. FMR LLC raised its stake in Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock worth $231,846,000 after purchasing an additional 35,827 shares during the period. Townsquare Capital LLC grew its holdings in Packaging Co. of America by 7.8% during the 3rd quarter. Townsquare Capital LLC now owns 2,791 shares of the industrial products company’s stock valued at $601,000 after purchasing an additional 201 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Packaging Co. of America by 15.0% in the third quarter. Public Sector Pension Investment Board now owns 3,830 shares of the industrial products company’s stock valued at $825,000 after purchasing an additional 500 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Packaging Co. of America by 6.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 88,122 shares of the industrial products company’s stock valued at $18,976,000 after purchasing an additional 5,517 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Packaging Co. of America by 1.2% during the 3rd quarter. Captrust Financial Advisors now owns 19,631 shares of the industrial products company’s stock valued at $4,229,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $197.94 on Tuesday. The company has a market cap of $17.77 billion, a PE ratio of 22.17, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The firm has a 50-day simple moving average of $209.67 and a 200 day simple moving average of $222.21. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, sell-side analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s payout ratio is currently 55.99%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company dropped their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

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.