Cresset Asset Management LLC Sells 13,057 Shares of Packaging Co. of America (NYSE:PKG)

Cresset Asset Management LLC trimmed its position in shares of Packaging Co. of America (NYSE:PKG) by 86.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,085 shares of the industrial products company’s stock after selling 13,057 shares during the period. Cresset Asset Management LLC’s holdings in Packaging Co. of America were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PKG. Centricity Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter valued at $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter valued at $48,000. Rialto Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter valued at $63,000. Intact Investment Management Inc. bought a new position in Packaging Co. of America during the fourth quarter valued at $68,000. Finally, Global Retirement Partners LLC lifted its position in shares of Packaging Co. of America by 83.8% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 140 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Trading Up 1.6%

Shares of PKG stock opened at $191.82 on Thursday. 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 52-week low of $172.72 and a 52-week high of $250.82. The company has a market capitalization of $17.26 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. The business’s fifty day moving average is $189.82 and its 200 day moving average is $214.92.

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, topping analysts’ consensus estimates of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. On average, equities research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.61%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 52.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PKG shares. Truist Financial dropped their target price on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. 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. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $226.60.

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.