AGF Management Ltd. Sells 4,958 Shares of Packaging Co. of America (NYSE:PKG)

AGF Management Ltd. reduced its holdings in Packaging Co. of America (NYSE:PKG) by 32.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,170 shares of the industrial products company’s stock after selling 4,958 shares during the quarter. AGF Management Ltd.’s holdings in Packaging Co. of America were worth $2,290,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PKG. Stifel Financial Corp boosted its position in Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after purchasing an additional 536,389 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Packaging Co. of America during the fourth quarter valued at approximately $50,175,000. Conning Inc. bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $32,329,000. Two Sigma Advisers LP boosted its stake in shares of Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock worth $44,739,000 after acquiring an additional 142,400 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Packaging Co. of America by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after acquiring an additional 132,836 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $196.68 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The stock has a market capitalization of $17.66 billion, a PE ratio of 22.02, a P/E/G ratio of 2.41 and a beta of 0.77. The business has a fifty day moving average price of $217.04 and a two-hundred 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 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%. As a group, equities analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. 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 2.54%. Packaging Co. of America’s payout ratio is presently 55.99%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Truist Financial restated a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. 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. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target 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 note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.