Packaging Co. of America (NYSE:PKG) Shares Sold by Prudential PLC

Prudential PLC reduced its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 83.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,245 shares of the industrial products company's stock after selling 6,250 shares during the period. Prudential PLC's holdings in Packaging Co. of America were worth $280,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Fortitude Family Office LLC grew its stake in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth approximately $44,000. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter valued at $48,000. Rialto Wealth Management LLC bought a new stake in Packaging Co. of America during the fourth quarter valued at about $63,000. Finally, Intact Investment Management Inc. purchased a new position in Packaging Co. of America in the 4th quarter worth approximately $68,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Up 1.1 %

Shares of Packaging Co. of America stock traded up $2.10 during trading on Monday, reaching $191.04. The company's stock had a trading volume of 65,919 shares, compared to its average volume of 696,378. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. 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 company has a market cap of $17.18 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 2.41 and a beta of 0.84. The company has a 50-day simple moving average of $200.77 and a two-hundred day simple moving average of $220.10.

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Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results 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 return on equity of 19.67% and a net margin of 9.60%. As a group, equities analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio is presently 55.99%.

Analyst Ratings Changes

PKG has been the topic of a number of recent research reports. Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. 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. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price objective on Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.80.

Packaging Co. of America 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.