ExodusPoint Capital Management LP lifted its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 151.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,741 shares of the industrial products company's stock after acquiring an additional 39,028 shares during the period. ExodusPoint Capital Management LP owned approximately 0.07% of Packaging Co. of America worth $14,575,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC increased its holdings in Packaging Co. of America by 17.0% in the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company's stock worth $4,366,000 after purchasing an additional 2,946 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $293,000. AlphaQuest LLC increased its stake in shares of Packaging Co. of America by 25.3% in the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock valued at $2,180,000 after acquiring an additional 1,954 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter valued at $6,966,000. Finally, Sciencast Management LP acquired a new position in shares of Packaging Co. of America during the 4th quarter valued at $2,853,000. 89.78% of the stock is owned by institutional investors and hedge funds.
Packaging Co. of America Stock Up 7.7 %
Shares of Packaging Co. of America stock traded up $13.51 on Wednesday, hitting $189.48. The company had a trading volume of 1,300,955 shares, compared to its average volume of 693,879. Packaging Co. of America has a 1 year low of $169.00 and a 1 year 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 50 day moving average of $201.72 and a 200-day moving average of $220.45. The stock has a market capitalization of $17.04 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.41 and a beta of 0.84.
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 (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, sell-side analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.
Packaging Co. of America Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating for the company in a research note on Tuesday. Truist Financial reaffirmed a "buy" rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note 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. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Citigroup increased their target price 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. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $228.50.
Read Our Latest Report on PKG
Packaging Co. of America Company 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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