Packaging Co. of America (NYSE:PKG) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its position in shares of Packaging Co. of America (NYSE:PKG) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,084 shares of the industrial products company’s stock after selling 2,774 shares during the quarter. Voya Investment Management LLC’s holdings in Packaging Co. of America were worth $6,097,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth $258,928,000. Raymond James Financial Inc. acquired a new stake in Packaging Co. of America in the 4th quarter worth about $50,175,000. Cartenna Capital LP grew its holdings in Packaging Co. of America by 159.0% in the 4th quarter. Cartenna Capital LP now owns 246,007 shares of the industrial products company’s stock valued at $55,384,000 after buying an additional 151,007 shares during the period. Conning Inc. acquired a new position in shares of Packaging Co. of America during the 4th quarter valued at about $32,329,000. Finally, Marshall Wace LLP purchased a new position in shares of Packaging Co. of America during the 4th quarter worth about $31,432,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PKG has been the subject of several research analyst reports. Truist Financial dropped their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their target price on Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Citigroup lifted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. 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, StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.60.

Packaging Co. of America Trading Down 0.1 %

Shares of PKG opened at $185.75 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 12 month low of $172.37 and a 12 month high of $250.82. The stock has a market cap of $16.70 billion, a PE ratio of 20.80, a P/E/G ratio of 2.41 and a beta of 0.84. The stock’s 50-day moving average is $194.60 and its two-hundred day moving average is $217.49.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Equities analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a $1.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.69%. Packaging Co. of America’s payout ratio is currently 52.30%.

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.