Front Row Advisors LLC Trims Stock Holdings in Packaging Co. of America (NYSE:PKG)

Front Row Advisors LLC lowered its stake in Packaging Co. of America (NYSE:PKG) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,849 shares of the industrial products company’s stock after selling 60 shares during the quarter. Packaging Co. of America makes up 1.3% of Front Row Advisors LLC’s investment portfolio, making the stock its 17th largest position. Front Row Advisors LLC’s holdings in Packaging Co. of America were worth $3,793,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its position in Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after buying an additional 35,827 shares during the period. Townsquare Capital LLC lifted its position in Packaging Co. of America by 7.8% during the 3rd quarter. Townsquare Capital LLC now owns 2,791 shares of the industrial products company’s stock valued at $601,000 after acquiring an additional 201 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Packaging Co. of America by 15.0% during the third quarter. Public Sector Pension Investment Board now owns 3,830 shares of the industrial products company’s stock valued at $825,000 after purchasing an additional 500 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Packaging Co. of America by 6.7% during the third quarter. Rockefeller Capital Management L.P. now owns 88,122 shares of the industrial products company’s stock valued at $18,976,000 after acquiring an additional 5,517 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Packaging Co. of America by 1.2% in the third quarter. Captrust Financial Advisors now owns 19,631 shares of the industrial products company’s stock worth $4,229,000 after buying an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. 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 report on Thursday, January 30th. Finally, Wells Fargo & Company cut their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Stock Performance

NYSE PKG opened at $197.94 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock’s 50 day simple moving average is $209.67 and its 200-day simple moving average is $222.21. The company has a market cap of $17.77 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data 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 anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 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.