Sterling Capital Management LLC Has $1.20 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Sterling Capital Management LLC boosted its position in shares of Packaging Co. of America (NYSE:PKG) by 54.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,314 shares of the industrial products company’s stock after purchasing an additional 1,874 shares during the period. Sterling Capital Management LLC’s holdings in Packaging Co. of America were worth $1,196,000 at the end of the most recent reporting period.

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

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $188.51 on Wednesday. The business’s 50 day moving average is $199.90 and its 200-day moving average is $219.71. 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 market capitalization of $16.95 billion, a PE ratio of 21.11, a PEG ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Sell-side analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $1.25 per share. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.65%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analysts Set New Price Targets

Several analysts have recently issued reports on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Citigroup lifted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Truist Financial reaffirmed a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company cut their target price on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $237.80.

About Packaging Co. of America

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.