Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 23.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,194 shares of the industrial products company's stock after buying an additional 17,980 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.10% of Packaging Co. of America worth $21,206,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of PKG. Fortitude Family Office LLC boosted its holdings in 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 worth $37,000 after acquiring an additional 98 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Packaging Co. of America by 234.7% during 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 in the last quarter. Centricity Wealth Management LLC purchased a new position in Packaging Co. of America during the fourth quarter worth about $44,000. Golden State Wealth Management LLC purchased a new position in Packaging Co. of America during the fourth quarter worth about $48,000. Finally, Rialto Wealth Management LLC bought a new stake in Packaging Co. of America in the 4th quarter worth about $63,000. Institutional investors own 89.78% of the company's stock.
Packaging Co. of America Stock Performance
Shares of PKG traded up $1.87 during mid-day trading on Tuesday, hitting $199.89. The stock had a trading volume of 669,857 shares, compared to its average volume of 673,182. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. 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 business has a fifty day moving average price of $208.82 and a 200-day moving average price of $222.13. The firm has a market cap of $17.95 billion, a P/E ratio of 22.38, a PEG ratio of 2.41 and a beta of 0.77.
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%. On average, equities research analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.
Packaging Co. of America Announces Dividend
The firm also recently disclosed 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 annualized dividend and a yield of 2.50%. The ex-dividend date 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 topic of several recent analyst reports. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Saturday. Truist Financial reissued a "buy" rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their target price for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Citigroup increased their price target on shares of 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.00.
Read Our Latest Stock Analysis 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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