JPMorgan Chase & Co. trimmed its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,074,774 shares of the industrial products company's stock after selling 280,335 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.31% of Packaging Co. of America worth $467,094,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp increased its stake in Packaging Co. of America by 1,462.2% in the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock worth $123,440,000 after purchasing an additional 536,389 shares during the period. Raymond James Financial Inc. bought a new stake in Packaging Co. of America during the 4th quarter valued at about $50,175,000. Conning Inc. bought a new stake in Packaging Co. of America during the 4th quarter valued at about $32,329,000. Two Sigma Advisers LP boosted its position in Packaging Co. of America by 218.1% in the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company's stock valued at $44,739,000 after buying an additional 142,400 shares during the period. Finally, Vanguard Group Inc. grew its stake in Packaging Co. of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock worth $2,571,821,000 after acquiring an additional 133,575 shares in the last quarter. 89.78% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
PKG has been the subject of a number of research reports. Truist Financial reiterated a "buy" rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Saturday. Wells Fargo & Company dropped their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock 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. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.
Read Our Latest Stock Report on PKG
Packaging Co. of America Stock Up 0.4 %
Shares of NYSE:PKG traded up $0.86 during trading on Wednesday, reaching $200.79. The stock had a trading volume of 353,515 shares, compared to its average volume of 672,086. The company has a market capitalization of $18.03 billion, a P/E ratio of 22.48, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. 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 firm's 50-day simple moving average is $208.82 and its 200 day simple moving average is $222.13.
Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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 expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.
Packaging Co. of America Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.49%. Packaging Co. of America's dividend payout ratio (DPR) is presently 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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