Andra AP fonden cut its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,200 shares of the industrial products company's stock after selling 2,400 shares during the period. Andra AP fonden owned 0.06% of Packaging Co. of America worth $12,877,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Larson Financial Group LLC raised its stake in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after purchasing an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth $44,000. Golden State Wealth Management LLC purchased a new position in Packaging Co. of America in the 4th quarter valued at $48,000. Finally, Assetmark Inc. increased its stake 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 buying an additional 83 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently weighed in on PKG. Citigroup lifted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Wells Fargo & Company decreased their price target on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $233.00.
Read Our Latest Stock Report on Packaging Co. of America
Packaging Co. of America Price Performance
PKG traded down $0.10 during trading on Wednesday, reaching $197.35. 686,702 shares of the stock were exchanged, compared to its average volume of 615,261. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company 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. The business's 50 day moving average price is $218.85 and its two-hundred day moving average price is $223.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.
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 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%. As a group, equities research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current year.
Packaging Co. of America Dividend Announcement
The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.53%. Packaging Co. of America's dividend payout ratio (DPR) is 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.
Further Reading
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