Nomura Asset Management Co. Ltd. Trims Holdings in Packaging Co. of America (NYSE:PKG)

Nomura Asset Management Co. Ltd. reduced its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,743 shares of the industrial products company's stock after selling 14,377 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Packaging Co. of America were worth $6,021,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PKG. Fortitude Family Office LLC raised its position 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 period. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America in the fourth quarter valued at about $48,000. Rialto Wealth Management LLC purchased a new position in Packaging Co. of America in the 4th quarter valued at approximately $63,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $68,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PKG. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company cut their target price 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. Citigroup raised their price objective 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. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, 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. Two equities research 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. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.

Remove Ads

Packaging Co. of America Price Performance

PKG traded up $1.53 on Wednesday, hitting $201.46. 680,063 shares of the stock were exchanged, compared to its average volume of 674,387. 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 has a 12 month low of $169.00 and a 12 month high of $250.82. The firm has a market capitalization of $18.09 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 2.41 and a beta of 0.77. The business has a 50-day moving average of $208.05 and a two-hundred day moving average of $221.99.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) 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%. 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 business 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is currently 55.99%.

Packaging Co. of America Company Profile

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.