Packaging Co. of America (NYSE:PKG) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its holdings in Packaging Co. of America (NYSE:PKG) by 29.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,670 shares of the industrial products company’s stock after selling 714 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Packaging Co. of America were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PKG. Fortitude Family Office LLC increased its position in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after buying an additional 98 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at $44,000. Golden State Wealth Management LLC purchased a new stake in Packaging Co. of America in the 4th quarter worth $48,000. Rialto Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $63,000. Finally, Intact Investment Management Inc. purchased a new position in Packaging Co. of America during the fourth quarter valued at $68,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PKG shares. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Citigroup boosted 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. Truist Financial restated a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price objective on Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.80.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $187.07 on Friday. The business’s 50 day moving average price is $198.99 and its 200 day moving average price is $219.29. The company has a market cap of $16.82 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.41 and a beta of 0.84. 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.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 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%. On average, research analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a $1.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.67%. Packaging Co. of America’s dividend payout ratio (DPR) is 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.