National Bank of Canada FI reduced its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,713 shares of the industrial products company's stock after selling 3,657 shares during the period. National Bank of Canada FI owned about 0.09% of Packaging Co. of America worth $17,496,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Packaging Co. of America by 9.6% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 4,663 shares of the industrial products company's stock valued at $1,050,000 after buying an additional 410 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Packaging Co. of America in the 4th quarter valued at about $140,000. Wellington Management Group LLP lifted its holdings in Packaging Co. of America by 134.1% during the fourth quarter. Wellington Management Group LLP now owns 28,260 shares of the industrial products company's stock valued at $6,362,000 after purchasing an additional 16,190 shares during the last quarter. Bcwm LLC bought a new position in Packaging Co. of America during the fourth quarter worth about $293,000. Finally, Transamerica Financial Advisors Inc. increased its stake in shares of Packaging Co. of America by 48,200.0% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 2,898 shares of the industrial products company's stock worth $653,000 after purchasing an additional 2,892 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.
Packaging Co. of America Price Performance
NYSE PKG traded up $13.51 during trading on Wednesday, reaching $189.48. The company's stock had a trading volume of 1,300,955 shares, compared to its average volume of 693,879. The firm has a fifty day moving average of $201.72 and a 200 day moving average of $220.45. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The stock has a market capitalization of $17.04 billion, a PE ratio of 21.22, a P/E/G ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.
Packaging Co. of America (NYSE:PKG - Get Free Report) last announced 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 net margin of 9.60% and a return on equity of 19.67%. Analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.
Packaging Co. of America Dividend Announcement
The business also recently announced 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 annualized dividend and a yield of 2.64%. Packaging Co. of America's dividend payout ratio (DPR) is presently 55.99%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on PKG shares. Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and upped their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Citigroup increased their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Wells Fargo & Company reduced their price target on Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating for the company in a research report on Tuesday. Truist Financial reissued a "buy" rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday. 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $228.50.
Check Out Our Latest Stock Report on Packaging Co. of America
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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