Skba Capital Management LLC Decreases Stake in Packaging Co. of America (NYSE:PKG)

Skba Capital Management LLC trimmed its holdings in shares of Packaging Co. of America (NYSE:PKG) by 14.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,685 shares of the industrial products company’s stock after selling 7,010 shares during the quarter. Skba Capital Management LLC’s holdings in Packaging Co. of America were worth $9,385,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. SYM FINANCIAL Corp raised its position 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 purchasing an additional 42 shares in the last quarter. Mather Group LLC. increased its stake in shares of Packaging Co. of America by 1.7% in the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock worth $582,000 after buying an additional 43 shares during the last quarter. UMB Bank n.a. raised its holdings in Packaging Co. of America by 3.9% in the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 44 shares in the last quarter. AlphaMark Advisors LLC boosted its stake in Packaging Co. of America by 3.9% during the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 52 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its stake in Packaging Co. of America by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PKG. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered 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 note on Thursday, January 30th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Truist Financial restated 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. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Stock Performance

PKG opened at $195.40 on Monday. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The stock has a market cap of $17.55 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The business’s 50 day moving average is $210.46 and its 200-day moving average is $222.28. 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 released its 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, analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

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.