Loomis Sayles & Co. L P Has $17.97 Million Position in Packaging Co. of America (NYSE:PKG)

Loomis Sayles & Co. L P cut its position in shares of Packaging Co. of America (NYSE:PKG) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,798 shares of the industrial products company’s stock after selling 2,071 shares during the period. Loomis Sayles & Co. L P’s holdings in Packaging Co. of America were worth $17,965,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PKG. Fortitude Family Office LLC increased its position in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Packaging Co. of America in the 4th quarter valued at $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter valued at $48,000. Finally, Rialto Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter worth $63,000. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Down 1.4 %

NYSE PKG opened at $195.40 on Friday. The company has a market cap of $17.55 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1-year low of $169.00 and a 1-year 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 company has a 50 day moving average of $210.46 and a 200-day moving average of $222.04.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, equities research analysts expect 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 will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.56%. Packaging Co. of America’s payout ratio is 55.99%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PKG. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Truist Financial reissued a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Citigroup upped their price objective 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. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $233.00.

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.