Groupama Asset Managment acquired a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,844 shares of the industrial products company's stock, valued at approximately $640,000.
Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC increased its holdings in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after purchasing an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter worth about $44,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $48,000. Rialto Wealth Management LLC acquired a new stake in Packaging Co. of America in the fourth quarter valued at approximately $63,000. Finally, Intact Investment Management Inc. purchased a new position in Packaging Co. of America in the fourth quarter worth approximately $68,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. Truist Financial reissued a "buy" rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Saturday, March 29th. Citigroup increased their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Two investment 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $233.00.
Read Our Latest Analysis on Packaging Co. of America
Packaging Co. of America Stock Performance
NYSE:PKG traded down $6.12 during trading hours on Friday, reaching $183.04. 1,553,983 shares of the company's stock were exchanged, compared to its average volume of 683,506. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $16.46 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The company has a 50-day moving average of $205.91 and a 200 day moving average of $221.54.
Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 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%. Research analysts anticipate that Packaging Co. of America will post 10.44 EPS 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. Investors of record on Friday, March 14th will be given a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.73%. Packaging Co. of America's dividend payout ratio (DPR) is 55.99%.
Packaging Co. of America Profile
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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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