Proficio Capital Partners LLC bought a new stake in Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 112,340 shares of the industrial products company's stock, valued at approximately $25,291,000. Proficio Capital Partners LLC owned approximately 0.13% of Packaging Co. of America as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the business. Assetmark Inc. increased its holdings in Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. Atria Investments Inc increased its holdings in Packaging Co. of America by 2.7% in the 3rd quarter. Atria Investments Inc now owns 12,145 shares of the industrial products company's stock valued at $2,616,000 after purchasing an additional 321 shares in the last quarter. Sigma Planning Corp acquired a new stake in Packaging Co. of America in the 3rd quarter valued at $541,000. Apollon Wealth Management LLC increased its holdings in Packaging Co. of America by 24.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,386 shares of the industrial products company's stock valued at $298,000 after purchasing an additional 269 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Packaging Co. of America by 1.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 229,989 shares of the industrial products company's stock valued at $49,540,000 after purchasing an additional 2,325 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.
Packaging Co. of America Stock Down 0.6 %
Shares of PKG stock traded down $1.15 during trading hours on Tuesday, hitting $197.37. 563,312 shares of the company were exchanged, compared to its average volume of 613,799. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The business's 50-day simple moving average is $216.47 and its two-hundred day simple moving average is $222.77. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.41 and a beta of 0.77.
Packaging Co. of America (NYSE:PKG - Get Free Report) last issued 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 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 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, 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 2.53%. Packaging Co. of America's dividend payout ratio is currently 55.99%.
Wall Street Analysts Forecast Growth
PKG has been the subject of several recent research reports. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. 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 research report on Thursday, January 30th. Truist Financial reissued a "buy" rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, Citigroup upped their price objective 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. Two 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $233.00.
Check Out Our Latest Analysis on PKG
About Packaging Co. of America
(
Free Report)
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.
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