Foundry Partners LLC decreased its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,800 shares of the industrial products company's stock after selling 10,068 shares during the period. Foundry Partners LLC owned approximately 0.07% of Packaging Co. of America worth $13,913,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Packaging Co. of America during the 4th quarter valued at approximately $258,928,000. Stifel Financial Corp increased its position in 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 buying an additional 536,389 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Packaging Co. of America in the fourth quarter valued at $50,175,000. Conning Inc. purchased a new position in shares of Packaging Co. of America during the 4th quarter valued at $32,329,000. Finally, Two Sigma Advisers LP grew its stake in shares of Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company's stock worth $44,739,000 after acquiring an additional 142,400 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.
Packaging Co. of America Trading Down 0.6 %
PKG traded down $1.04 on Wednesday, hitting $174.93. 224,770 shares of the company were exchanged, compared to its average volume of 688,727. 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 firm has a fifty day simple moving average of $202.67 and a two-hundred day simple moving average of $220.84. The stock has a market capitalization of $15.73 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82.
Packaging Co. of America (NYSE:PKG - Get Free Report) last issued 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%. Sell-side analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.
Packaging Co. of America Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.86%. Packaging Co. of America's dividend payout ratio is currently 55.99%.
Wall Street Analyst Weigh In
PKG has been the subject of several recent research reports. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Wells Fargo & Company cut their price objective on shares of Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating for the company in a research report on Tuesday. Citigroup upped their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Finally, Truist Financial reissued a "buy" rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.50.
Check Out Our Latest Report on Packaging Co. of America
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.
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