Dana Investment Advisors Inc. Cuts Stock Position in Packaging Co. of America (NYSE:PKG)

Dana Investment Advisors Inc. lessened its stake in Packaging Co. of America (NYSE:PKG) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,389 shares of the industrial products company’s stock after selling 145 shares during the period. Dana Investment Advisors Inc.’s holdings in Packaging Co. of America were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC boosted its holdings in Packaging Co. of America by 17.0% in the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after acquiring an additional 2,946 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Packaging Co. of America in the fourth quarter worth about $6,966,000. GAMMA Investing LLC boosted its holdings in Packaging Co. of America by 24.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after acquiring an additional 473 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Packaging Co. of America by 8.4% in the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock worth $99,194,000 after acquiring an additional 35,614 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Packaging Co. of America by 16.0% in the fourth quarter. QRG Capital Management Inc. now owns 89,380 shares of the industrial products company’s stock worth $20,122,000 after acquiring an additional 12,305 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. 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 investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Up 1.5 %

NYSE PKG opened at $206.82 on Friday. The business has a fifty day moving average price of $219.91 and a 200 day moving average price of $222.94. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. 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 company has a market cap of $18.57 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data 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 fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) 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.