LPL Financial LLC Sells 564 Shares of Packaging Co. of America (NYSE:PKG)

LPL Financial LLC decreased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 0.5% during the fourth quarter, HoldingsChannel reports. The fund owned 119,071 shares of the industrial products company’s stock after selling 564 shares during the quarter. LPL Financial LLC’s holdings in Packaging Co. of America were worth $26,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp grew its position in shares of Packaging Co. of America by 1,462.2% in the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after purchasing an additional 536,389 shares in the last quarter. Raymond James Financial Inc. bought a new position in Packaging Co. of America in the 4th quarter worth about $50,175,000. Conning Inc. purchased a new position in Packaging Co. of America during the 4th quarter valued at about $32,329,000. Two Sigma Advisers LP increased its position in shares of Packaging Co. of America by 218.1% during the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after buying an additional 142,400 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Packaging Co. of America by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after buying an additional 132,836 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PKG shares. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. 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 note on Monday, January 6th. 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. Finally, Truist Financial reaffirmed a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Trading Down 1.4 %

NYSE PKG opened at $195.40 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $210.46 and its two-hundred day simple moving average is $222.16. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast 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 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 dividend on an annualized basis and a dividend yield of 2.56%. 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.