Independent Advisor Alliance acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,421 shares of the industrial products company's stock, valued at approximately $320,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after buying an additional 115 shares during the last quarter. Fortitude Family Office LLC grew its holdings in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 98 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at $44,000. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at $48,000. Finally, Assetmark Inc. grew its holdings in shares of Packaging Co. of America by 44.6% in the third 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. Institutional investors own 89.78% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on PKG shares. Truist Financial reissued a "buy" rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. 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. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and raised their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Citigroup lifted 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. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $233.00.
Get Our Latest Report on Packaging Co. of America
Packaging Co. of America Trading Down 1.5 %
NYSE PKG traded down $2.88 on Friday, hitting $194.30. 2,534,955 shares of the stock were exchanged, compared to its average volume of 619,281. The firm has a market capitalization of $17.45 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 52-week low of $169.00 and a 52-week 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 stock has a fifty day moving average price of $214.03 and a two-hundred day moving average price of $222.24.
Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio is currently 55.99%.
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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