AGF Management Ltd. Has $2.29 Million Position in Packaging Co. of America (NYSE:PKG)

AGF Management Ltd. lessened its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 32.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,170 shares of the industrial products company's stock after selling 4,958 shares during the period. 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 have also modified their holdings of PKG. State Street Corp lifted its holdings in shares of Packaging Co. of America by 3.2% during the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock valued at $855,212,000 after purchasing an additional 123,050 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 buying an additional 132,836 shares during the period. Geode Capital Management LLC lifted its stake in Packaging Co. of America by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company's stock valued at $501,896,000 after buying an additional 12,936 shares in the last quarter. FMR LLC boosted its holdings in shares of Packaging Co. of America by 3.4% in the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company's stock worth $231,846,000 after buying an additional 35,827 shares during the period. Finally, Stifel Financial Corp increased its position in shares of Packaging Co. of America by 1,462.2% in the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock worth $123,440,000 after acquiring an additional 536,389 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

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Packaging Co. of America Stock Up 0.4 %

NYSE PKG traded up $0.73 on Wednesday, reaching $198.34. The stock had a trading volume of 810,785 shares, compared to its average volume of 614,677. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The business has a 50 day moving average price of $215.91 and a 200 day moving average price of $222.69. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $17.81 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data 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%. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's dividend payout ratio is presently 55.99%.

Wall Street Analyst Weigh In

PKG has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target 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. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Truist Financial restated a "buy" rating and set 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, Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and upped their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. 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 company. According to MarketBeat.com, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and an average price target of $233.00.

About Packaging Co. of America

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.