AGF Management Ltd. lowered its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 32.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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.
Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC increased 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 during the period. Larson Financial Group LLC increased its holdings in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 115 shares during the period. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $44,000. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $48,000. Finally, Assetmark Inc. grew its holdings in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.
Packaging Co. of America Price Performance
Packaging Co. of America stock traded down $1.15 during trading hours on Tuesday, hitting $197.37. The stock had a trading volume of 563,312 shares, compared to its average volume of 614,149. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The stock's fifty day moving average is $215.91 and its two-hundred day moving average is $222.69.
Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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%. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. Packaging Co. of America's dividend payout ratio is currently 55.99%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and upped their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Finally, Truist Financial reaffirmed a "buy" rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.
Read Our Latest Analysis on Packaging Co. of America
Packaging Co. of America Profile
(
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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