Foundry Partners LLC Decreases Position in Packaging Co. of America (NYSE:PKG)

Foundry Partners LLC lessened its holdings in shares of Packaging Co. of America (NYSE:PKGFree Report) by 26.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,815 shares of the industrial products company’s stock after selling 16,807 shares during the period. Foundry Partners LLC’s holdings in Packaging Co. of America were worth $7,188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Packaging Co. of America by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 12,047,771 shares of the industrial products company’s stock valued at $1,880,777,000 after purchasing an additional 161,559 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Packaging Co. of America by 1.7% during the 1st quarter. BlackRock Inc. now owns 9,048,220 shares of the industrial products company’s stock valued at $1,256,164,000 after purchasing an additional 151,624 shares during the last quarter. State Street Corp lifted its holdings in shares of Packaging Co. of America by 0.5% during the 2nd quarter. State Street Corp now owns 4,631,016 shares of the industrial products company’s stock valued at $617,819,000 after purchasing an additional 23,232 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Packaging Co. of America by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company’s stock valued at $335,772,000 after purchasing an additional 11,536 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Packaging Co. of America by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,071,622 shares of the industrial products company’s stock valued at $273,132,000 after purchasing an additional 5,630 shares during the last quarter. Hedge funds and other institutional investors own 90.53% of the company’s stock.

Packaging Co. of America Stock Performance

PKG traded up $0.26 during midday trading on Monday, hitting $168.59. 41,362 shares of the company were exchanged, compared to its average volume of 726,228. The company’s 50 day simple moving average is $165.31 and its 200 day simple moving average is $156.63. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 4.12 and a beta of 0.76. The company has a current ratio of 2.17, a quick ratio of 1.40 and a debt-to-equity ratio of 0.54. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $176.96.

Packaging Co. of America (NYSE:PKGGet Free Report) last posted its earnings results on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. Packaging Co. of America had a return on equity of 20.47% and a net margin of 9.81%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the firm earned $2.35 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts predict that Packaging Co. of America will post 8.17 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Monday, December 18th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, December 15th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.96%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Truist Financial raised their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Jefferies Financial Group reduced their target price on Packaging Co. of America from $142.00 to $140.00 and set a “hold” rating for the company in a research note on Wednesday, October 18th. Citigroup raised their target price on Packaging Co. of America from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Wells Fargo & Company raised their target price on Packaging Co. of America from $147.00 to $173.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 30th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $154.67.

View Our Latest Research Report on Packaging Co. of America

Packaging Co. of America Profile

(Free Report)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

Further Reading

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Co. of America (NYSE:PKGFree Report).

Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

Receive News & Ratings for Packaging Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.