Packaging Co. of America (NYSE:PKG) Stock Holdings Reduced by American Century Companies Inc.

American Century Companies Inc. lowered its position in Packaging Co. of America (NYSE:PKG) by 42.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 902,507 shares of the industrial products company’s stock after selling 673,591 shares during the quarter. American Century Companies Inc. owned approximately 1.00% of Packaging Co. of America worth $203,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mizuho Securities USA LLC lifted its position in shares of Packaging Co. of America by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 8,451 shares of the industrial products company’s stock worth $1,903,000 after buying an additional 2,669 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter worth about $779,000. Quantbot Technologies LP acquired a new stake in shares of Packaging Co. of America in the fourth quarter worth about $5,084,000. Adams Natural Resources Fund Inc. lifted its position in shares of Packaging Co. of America by 25.4% in the fourth quarter. Adams Natural Resources Fund Inc. now owns 7,400 shares of the industrial products company’s stock worth $1,666,000 after buying an additional 1,500 shares during the last quarter. Finally, Sciencast Management LP acquired a new stake in shares of Packaging Co. of America in the fourth quarter worth about $2,853,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. 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 reissued a “buy” rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, Wells Fargo & Company cut their price objective on 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. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Price Performance

NYSE PKG opened at $194.30 on Friday. The stock has a 50-day simple moving average of $214.03 and a 200 day simple moving average of $222.35. 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 $17.45 billion, a PE ratio of 21.76, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted 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%. Research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 2.57%. Packaging Co. of America’s dividend payout ratio is currently 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.