Keybank National Association OH Sells 525 Shares of Packaging Co. of America (NYSE:PKG)

Keybank National Association OH lowered its position in shares of Packaging Co. of America (NYSE:PKG) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,897 shares of the industrial products company’s stock after selling 525 shares during the period. Keybank National Association OH’s holdings in Packaging Co. of America were worth $2,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares in the last quarter. Fortitude Family Office LLC grew 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 valued at $37,000 after acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the fourth quarter worth approximately $44,000. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $48,000. Finally, Assetmark Inc. boosted its stake in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Down 0.8 %

Shares of NYSE:PKG opened at $203.70 on Friday. The stock’s 50-day moving average is $220.83 and its 200 day moving average is $222.82. The company has a market cap of $18.29 billion, a PE ratio of 22.81, a P/E/G ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its 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 net margin of 9.60% and a return on equity of 19.67%. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.45%. Packaging Co. of America’s dividend payout ratio is 55.99%.

Analyst Ratings Changes

A number of equities analysts recently commented on PKG shares. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their price objective on 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. Truist Financial restated a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, Citigroup increased 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. Two 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.