Nomura Asset Management Co. Ltd. Reduces Position in Packaging Co. of America (NYSE:PKG)

Nomura Asset Management Co. Ltd. trimmed its holdings in Packaging Co. of America (NYSE:PKG) by 35.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,743 shares of the industrial products company’s stock after selling 14,377 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Packaging Co. of America were worth $6,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fortitude Family Office LLC lifted its position in Packaging Co. of America by 150.8% during 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 in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter worth $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter valued at about $48,000. Rialto Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $63,000. Finally, Intact Investment Management Inc. acquired a new stake in Packaging Co. of America during the fourth quarter worth about $68,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on PKG shares. Citigroup boosted their target price 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. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday. Truist Financial restated a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Price Performance

PKG stock opened at $197.94 on Tuesday. The business’s fifty day moving average price is $209.67 and its 200 day moving average price is $222.21. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The company has a market capitalization of $17.77 billion, a PE ratio of 22.17, a P/E/G ratio of 2.41 and a beta of 0.77. 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 (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, sell-side analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm 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 $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

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.