Loomis Sayles & Co. L P Sells 2,071 Shares of Packaging Co. of America (NYSE:PKG)

Loomis Sayles & Co. L P lowered its stake in shares of Packaging Co. of America (NYSE:PKG) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,798 shares of the industrial products company’s stock after selling 2,071 shares during the period. Loomis Sayles & Co. L P owned approximately 0.09% of Packaging Co. of America worth $17,965,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC boosted its stake in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America during the fourth quarter worth $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at $48,000. Finally, Rialto Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth $63,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PKG shares. Citigroup boosted their target price 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. Wells Fargo & Company decreased their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial reiterated a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Two investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

Shares of PKG opened at $195.40 on Friday. The company has a 50 day moving average of $210.46 and a 200-day moving average of $222.04. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $17.55 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.41 and a beta of 0.77. 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 released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. As a group, equities research analysts forecast 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. Investors of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.56%. Packaging Co. of America’s payout ratio is presently 55.99%.

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.