Yousif Capital Management LLC Decreases Holdings in Packaging Co. of America (NYSE:PKG)

Yousif Capital Management LLC reduced its stake in Packaging Co. of America (NYSE:PKGFree Report) by 22.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 11,426 shares of the industrial products company’s stock after selling 3,219 shares during the quarter. Yousif Capital Management LLC’s holdings in Packaging Co. of America were worth $2,263,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter valued at approximately $44,000. Lazard Asset Management LLC increased its position in Packaging Co. of America by 1,033.3% in the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock worth $45,000 after buying an additional 186 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the fourth quarter valued at $63,000. Ameriflex Group Inc. bought a new stake in shares of Packaging Co. of America in the fourth quarter valued at $64,000. Finally, Intact Investment Management Inc. bought a new position in shares of Packaging Co. of America during the 4th quarter worth $68,000. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PKG. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Wall Street Zen lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. UBS Group assumed coverage on Packaging Co. of America in a research report on Wednesday, June 4th. They set a “neutral” rating and a $200.00 target price on the stock. Finally, Truist Financial reduced their price target on 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. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.17.

Get Our Latest Stock Report on PKG

Packaging Co. of America Stock Down 2.6%

PKG stock opened at $188.30 on Friday. The company’s 50 day moving average is $189.04 and its 200 day moving average is $207.93. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKGGet Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share 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 firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Sell-side analysts predict that Packaging Co. of America will post 10.44 EPS 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, July 15th. Investors of record on Friday, June 13th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.66%. Packaging Co. of America’s dividend payout ratio is 52.30%.

About Packaging Co. of America

(Free Report)

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.

See Also

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

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