Packaging Co. of America (NYSE:PKG) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp increased its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 296.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,319 shares of the industrial products company's stock after purchasing an additional 36,139 shares during the quarter. Cibc World Markets Corp owned approximately 0.05% of Packaging Co. of America worth $10,878,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. SYM FINANCIAL Corp grew its holdings in shares of Packaging Co. of America by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company's stock worth $316,000 after buying an additional 42 shares in the last quarter. Mather Group LLC. boosted its position in Packaging Co. of America by 1.7% during the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock worth $582,000 after acquiring an additional 43 shares during the last quarter. UMB Bank n.a. raised its holdings in Packaging Co. of America by 3.9% in the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company's stock valued at $262,000 after acquiring an additional 44 shares during the last quarter. AlphaMark Advisors LLC lifted its stake in Packaging Co. of America by 3.9% in the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company's stock worth $312,000 after purchasing an additional 52 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in Packaging Co. of America by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company's stock worth $370,000 after purchasing an additional 52 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Packaging Co. of America Trading Down 1.5 %

PKG traded down $2.88 on Friday, hitting $194.30. The company had a trading volume of 2,534,955 shares, compared to its average volume of 619,281. The company's fifty day moving average price is $214.03 and its 200 day moving average price is $222.24. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. 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 firm has a market cap of $17.45 billion, a P/E ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly 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%. As a group, equities analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. Packaging Co. of America's dividend payout ratio is currently 55.99%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PKG. Wells Fargo & Company cut their price target on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Friday. 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. 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 shares of Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $233.00.

Packaging Co. of America Company Profile

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.