Skandinaviska Enskilda Banken AB publ Sells 21,250 Shares of Packaging Co. of America (NYSE:PKG)

Skandinaviska Enskilda Banken AB publ trimmed its stake in Packaging Co. of America (NYSE:PKG) by 27.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,076 shares of the industrial products company’s stock after selling 21,250 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.06% of Packaging Co. of America worth $12,840,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. SYM FINANCIAL Corp lifted its position 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 holdings 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 worth $582,000 after acquiring an additional 43 shares during the last quarter. UMB Bank n.a. lifted its stake 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 during the last quarter. AlphaMark Advisors LLC lifted its stake in Packaging Co. of America by 3.9% in the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 52 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its position in shares of 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 during the period. 89.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Stock Performance

PKG stock opened at $196.68 on Friday. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a market capitalization of $17.66 billion, a P/E ratio of 22.02, a PEG ratio of 2.41 and a beta of 0.77. The business has a 50-day moving average price of $217.04 and a 200 day moving average price of $222.58.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS 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%. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s payout ratio is 55.99%.

Packaging Co. of America 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.