LBP AM SA increased its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,584 shares of the industrial products company's stock after buying an additional 5,104 shares during the period. LBP AM SA's holdings in Packaging Co. of America were worth $8,236,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC increased its stake in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Packaging Co. of America in the fourth quarter valued at approximately $44,000. Golden State Wealth Management LLC purchased a new position in Packaging Co. of America in the fourth quarter valued at approximately $48,000. Finally, Assetmark Inc. increased its stake in Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 83 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.
Packaging Co. of America Stock Performance
Shares of NYSE PKG traded down $1.15 during mid-day trading on Tuesday, hitting $197.37. 563,312 shares of the company were exchanged, compared to its average volume of 613,891. 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 stock has a 50 day simple moving average of $215.91 and a 200-day simple moving average of $222.69. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.
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%. On average, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is currently 55.99%.
Analyst Ratings Changes
Several research firms have recently weighed in on PKG. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on 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. 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, 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 report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of "Moderate Buy" and a consensus price target of $233.00.
View Our Latest Stock Analysis on PKG
Packaging Co. of America Company Profile
(
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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