Franklin Resources Inc. trimmed its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 19.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,117 shares of the industrial products company's stock after selling 25,511 shares during the period. Franklin Resources Inc. owned about 0.12% of Packaging Co. of America worth $23,665,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its stake 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 buying an additional 98 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $48,000. Rialto Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $63,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $68,000. Institutional investors own 89.78% of the company's stock.
Packaging Co. of America Price Performance
Shares of NYSE:PKG traded up $3.50 during trading on Friday, reaching $188.95. The stock had a trading volume of 830,656 shares, compared to its average volume of 698,135. The stock has a market capitalization of $16.99 billion, a PE ratio of 21.16, a P/E/G ratio of 2.41 and a beta of 0.84. 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 has a 52 week low of $169.00 and a 52 week high of $250.82. The business's 50-day moving average price is $200.77 and its 200 day moving average price is $220.07.
Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data 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 net margin of 9.60% and a return on equity of 19.67%. As a group, equities analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.65%. Packaging Co. of America's dividend payout ratio (DPR) is 55.99%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on PKG. 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 on the stock in a research note on Tuesday. Truist Financial reiterated a "buy" rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $228.50.
Get Our Latest Stock Report on PKG
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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