Nuveen Asset Management LLC Has $68.16 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Nuveen Asset Management LLC lowered its position in shares of Packaging Co. of America (NYSE:PKG) by 75.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,767 shares of the industrial products company’s stock after selling 921,997 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.34% of Packaging Co. of America worth $68,162,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Packaging Co. of America during the 4th quarter worth about $293,000. AlphaQuest LLC increased its position in shares of Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after purchasing an additional 1,954 shares in the last quarter. Distillate Capital Partners LLC acquired a new stake in shares of Packaging Co. of America during the 4th quarter worth about $15,828,000. Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America during the 4th quarter worth about $6,966,000. Finally, Sciencast Management LP acquired a new stake in shares of Packaging Co. of America during the 4th quarter worth about $2,853,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of a number of recent analyst reports. Truist Financial dropped their target price on shares of 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. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $180.00 price objective (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $226.60.

Packaging Co. of America Stock Up 1.9%

Shares of NYSE:PKG opened at $194.33 on Friday. The firm has a market cap of $17.49 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.41 and a beta of 0.85. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82. The company’s 50-day moving average price is $189.59 and its two-hundred day moving average price is $214.35.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.10. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 52.30%.

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.