O Shaughnessy Asset Management LLC Lowers Holdings in Packaging Co. of America (NYSE:PKG)

O Shaughnessy Asset Management LLC reduced its stake in shares of Packaging Co. of America (NYSE:PKG) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,801 shares of the industrial products company’s stock after selling 1,113 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Packaging Co. of America were worth $8,960,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Sanctuary Advisors LLC grew its stake in shares of Packaging Co. of America by 17.0% during the 3rd 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 purchased a new stake in Packaging Co. of America during the fourth quarter worth $293,000. AlphaQuest LLC grew its position in 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 buying an additional 1,954 shares during the period. Strategic Financial Concepts LLC purchased a new position in Packaging Co. of America in the fourth quarter valued at $6,966,000. Finally, Sciencast Management LP acquired a new position in shares of Packaging Co. of America in the fourth quarter worth about $2,853,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PKG has been the topic of a number of analyst reports. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday. 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 report on Thursday, January 30th. 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. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Wells Fargo & Company decreased their price objective on shares of 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Stock Up 1.2 %

NYSE PKG opened at $197.94 on Tuesday. 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 business has a fifty day moving average price of $209.67 and a 200 day moving average price of $222.21. The company has a market cap of $17.77 billion, a P/E ratio of 22.17, 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 results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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 anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared 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 of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.53%. Packaging Co. of America’s dividend payout ratio (DPR) 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.