Royal Bank of Canada Cuts Stake in Packaging Co. of America (NYSE:PKG)

Royal Bank of Canada trimmed its position in shares of Packaging Co. of America (NYSE:PKG) by 10.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 229,908 shares of the industrial products company’s stock after selling 26,256 shares during the quarter. Royal Bank of Canada owned about 0.26% of Packaging Co. of America worth $51,760,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SYM FINANCIAL Corp boosted its holdings in shares of Packaging Co. of America by 3.1% during the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 42 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Packaging Co. of America by 1.7% during the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock valued at $582,000 after acquiring an additional 43 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Packaging Co. of America by 3.9% during the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 44 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of Packaging Co. of America by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 52 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its holdings in shares of Packaging Co. of America by 3.9% during the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 52 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PKG shares. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. 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. Wells Fargo & Company reiterated an “equal weight” rating and issued a $180.00 price objective (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Finally, Truist Financial lowered their price objective on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.60.

Packaging Co. of America Stock Down 1.3%

Shares of PKG opened at $190.96 on Thursday. The firm has a market capitalization of $17.18 billion, a P/E ratio of 21.38, a P/E/G ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 12-month low of $172.72 and a 12-month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average price of $189.45 and a 200-day moving average price of $213.70.

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

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.62%. Packaging Co. of America’s dividend payout ratio is presently 52.30%.

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.