Thrivent Financial for Lutherans Decreases Position in Packaging Co. of America (NYSE:PKG)

Thrivent Financial for Lutherans trimmed its holdings in shares of Packaging Co. of America (NYSE:PKG) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,276 shares of the industrial products company’s stock after selling 1,179 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Packaging Co. of America were worth $1,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Fortitude Family Office LLC increased its holdings in shares of 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 valued at $37,000 after acquiring an additional 98 shares in the last quarter. Larson Financial Group LLC increased its stake in 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 valued at $35,000 after purchasing an additional 115 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth $44,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the fourth quarter valued at $48,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at $63,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PKG has been the subject of several research analyst reports. Truist Financial restated a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company decreased their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Down 1.4 %

NYSE PKG opened at $195.40 on Friday. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The business has a fifty day moving average price of $210.46 and a 200 day moving average price of $222.16. The company has a market cap of $17.55 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. Research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend 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%.

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.