iA Global Asset Management Inc. Sells 1,008 Shares of Packaging Co. of America (NYSE:PKG)

iA Global Asset Management Inc. lessened its holdings in Packaging Co. of America (NYSE:PKG) by 20.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,956 shares of the industrial products company’s stock after selling 1,008 shares during the period. iA Global Asset Management Inc.’s holdings in Packaging Co. of America were worth $891,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth $44,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth $48,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth $63,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Down 1.5 %

Packaging Co. of America stock opened at $194.30 on Friday. The stock has a 50-day moving average of $214.03 and a two-hundred day moving average of $222.24. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The stock has a market cap of $17.45 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS 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%. On average, research analysts anticipate 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 declared 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 yield of 2.57%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company lowered their target price 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. Truist Financial reiterated a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Jefferies Financial Group upgraded 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 report on Wednesday, December 18th. 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, Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America 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.