Packaging Co. of America (NYSE:PKG) Holdings Reduced by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lessened its holdings in shares of Packaging Co. of America (NYSE:PKG) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,444 shares of the industrial products company’s stock after selling 1,377 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Packaging Co. of America were worth $2,126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sanctuary Advisors LLC lifted 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 purchasing an additional 2,946 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $293,000. AlphaQuest LLC increased its stake in shares of Packaging Co. of America by 25.3% during the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after acquiring an additional 1,954 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $6,966,000. Finally, GAMMA Investing LLC raised its stake in shares of Packaging Co. of America by 24.2% in the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after buying an additional 473 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $198.53 on Tuesday. The company has a market cap of $17.83 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.41 and a beta of 0.77. The business has a 50 day moving average price of $216.47 and a 200 day moving average price of $222.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analyst Upgrades and Downgrades

Several analysts recently commented on PKG shares. Citigroup increased their target price on shares of 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. Truist Financial reissued a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. 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 stock. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

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.