Locust Wood Capital Advisers LLC 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 SEC. The firm acquired 5,000 shares of the industrial products company's stock, valued at approximately $1,126,000.
Other institutional investors have also recently made changes to their positions in the company. F M Investments LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at $439,000. Bessemer Group Inc. lifted its holdings in Packaging Co. of America by 2.8% during the fourth quarter. Bessemer Group Inc. now owns 3,873 shares of the industrial products company's stock valued at $872,000 after purchasing an additional 105 shares in the last quarter. CenterBook Partners LP acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $271,000. Raymond James Financial Inc. purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth about $50,175,000. Finally, Martingale Asset Management L P raised its position in shares of Packaging Co. of America by 3.1% during the 4th quarter. Martingale Asset Management L P now owns 3,513 shares of the industrial products company's stock worth $791,000 after purchasing an additional 107 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.
Packaging Co. of America Stock Down 0.6 %
Shares of NYSE PKG traded down $1.18 during midday trading on Tuesday, hitting $189.47. The company's stock had a trading volume of 116,399 shares, compared to its average volume of 696,373. 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 firm has a market capitalization of $17.04 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The business's fifty day simple moving average is $200.38 and its two-hundred day simple moving average is $219.93. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82.
Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results 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 return on equity of 19.67% and a net margin of 9.60%. On average, equities analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.
Packaging Co. of America Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 55.99%.
Analysts Set New Price Targets
PKG has been the subject of several research reports. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their price objective on shares of Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial reissued a "buy" rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $237.80.
Get Our Latest Research 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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