Great Lakes Advisors LLC lessened its position in Packaging Co. of America (NYSE:PKG - Free Report) by 79.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,130 shares of the industrial products company's stock after selling 4,372 shares during the period. Great Lakes Advisors LLC's holdings in Packaging Co. of America were worth $254,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Sanctuary Advisors LLC increased its holdings in shares of Packaging Co. of America by 17.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company's stock worth $4,366,000 after acquiring an additional 2,946 shares during the period. Jackson Creek Investment Advisors LLC acquired a new position in Packaging Co. of America during the 4th quarter valued at about $293,000. AlphaQuest LLC increased its stake in Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock valued at $2,180,000 after buying an additional 1,954 shares during the period. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America during the 4th quarter valued at about $6,966,000. Finally, GAMMA Investing LLC increased its stake in Packaging Co. of America by 24.2% during the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company's stock valued at $547,000 after buying an additional 473 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.
Packaging Co. of America Trading Up 0.3 %
Shares of PKG stock traded up $0.56 on Wednesday, reaching $198.17. The company had a trading volume of 35,760 shares, compared to its average volume of 611,615. 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 stock has a market cap of $17.80 billion, a PE ratio of 22.18, a PEG ratio of 2.41 and a beta of 0.77. The company has a 50-day moving average of $215.91 and a 200-day moving average of $222.69. 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 posted its 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 return on equity of 19.67% and a net margin of 9.60%. On average, equities 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 company also recently disclosed 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. This represents a $5.00 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on PKG shares. Truist Financial reaffirmed a "buy" rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Wells Fargo & Company decreased 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. 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. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Two equities research 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $233.00.
Read Our Latest 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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