Great Lakes Advisors LLC reduced its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 79.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,130 shares of the industrial products company's stock after selling 4,372 shares during the quarter. Great Lakes Advisors LLC's holdings in Packaging Co. of America were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its holdings in Packaging Co. of America by 17.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company's stock valued at $4,366,000 after acquiring an additional 2,946 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth about $293,000. AlphaQuest LLC grew its holdings in shares of Packaging Co. of America by 25.3% during the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock worth $2,180,000 after buying an additional 1,954 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth about $6,966,000. Finally, GAMMA Investing LLC grew its holdings in shares of Packaging Co. of America by 24.2% during the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company's stock worth $547,000 after buying an additional 473 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on PKG shares. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Citigroup lifted their price target 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. Wells Fargo & Company lowered their price target on shares of 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. Finally, Truist Financial reissued a "buy" rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Packaging Co. of America has a consensus rating of "Moderate Buy" and a consensus target price of $233.00.
Get Our Latest Research Report on Packaging Co. of America
Packaging Co. of America Trading Down 0.4 %
PKG stock traded down $0.70 during midday trading on Tuesday, reaching $197.81. 162,994 shares of the company's stock traded hands, compared to its average volume of 933,158. The company has a market capitalization of $17.76 billion, a P/E ratio of 22.15, a PEG ratio of 2.41 and a beta of 0.77. 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 fifty-two week low of $169.00 and a fifty-two week high of $250.82. The business has a 50-day moving average price of $216.47 and a two-hundred day moving average price of $222.77.
Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. Equities research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.
Packaging Co. of America Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 dividend on an annualized basis and a 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.
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