Harvest Fund Management Co. Ltd grew its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 447.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,174 shares of the industrial products company's stock after acquiring an additional 2,594 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Packaging Co. of America were worth $714,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of PKG. Sanctuary Advisors LLC boosted its position 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 worth $4,366,000 after acquiring an additional 2,946 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $293,000. AlphaQuest LLC boosted its holdings in 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 purchasing an additional 1,954 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Packaging Co. of America in the fourth quarter valued at $6,966,000. Finally, GAMMA Investing LLC increased its stake in Packaging Co. of America by 24.2% in 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 last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.
Packaging Co. of America Stock Performance
PKG traded down $2.19 during trading on Tuesday, hitting $198.62. The stock had a trading volume of 999,426 shares, compared to its average volume of 620,896. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a 50 day moving average price of $213.43 and a 200-day moving average price of $222.45. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The firm has a market cap of $17.84 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 2.41 and a beta of 0.77.
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 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%. As a group, research analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.
Packaging Co. of America Dividend Announcement
The firm also recently announced 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 is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.52%. Packaging Co. of America's payout ratio is presently 55.99%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on PKG shares. Citigroup raised their target price on shares of 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. Wells Fargo & Company cut their price objective on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Truist Financial reissued a "buy" rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Jefferies Financial Group raised 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 report on Wednesday, December 18th. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $233.00.
Read Our Latest Stock Report on Packaging Co. of America
Packaging Co. of America Company 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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