Bank of Montreal Can Has $21.08 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Bank of Montreal Can lowered its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,644 shares of the industrial products company's stock after selling 7,997 shares during the quarter. Bank of Montreal Can owned approximately 0.10% of Packaging Co. of America worth $21,082,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC increased its holdings in Packaging Co. of America by 17.0% in the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company's stock valued at $4,366,000 after purchasing an additional 2,946 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $293,000. AlphaQuest LLC grew its stake in shares of Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock worth $2,180,000 after acquiring an additional 1,954 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Packaging Co. of America during the fourth quarter worth about $6,966,000. Finally, Sciencast Management LP bought a new position in Packaging Co. of America during the fourth quarter worth about $2,853,000. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Price Performance

NYSE PKG traded down $2.14 during midday trading on Tuesday, hitting $188.51. The company had a trading volume of 447,513 shares, compared to its average volume of 697,669. The firm has a 50-day moving average price of $200.38 and a 200-day moving average price of $219.93. The company has a market capitalization of $16.95 billion, a PE ratio of 21.11, a P/E/G ratio of 2.41 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82.

Remove Ads

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 return on equity of 19.67% and a net margin of 9.60%. As a group, analysts anticipate that Packaging Co. of America will post 10.44 earnings per share 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. Stockholders of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.65%. Packaging Co. of America's payout ratio is currently 55.99%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PKG. Wells Fargo & Company reduced their target price on 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. Jefferies Financial Group raised shares of 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 report on Wednesday, December 18th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Truist Financial reiterated a "buy" rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, Citigroup increased 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. Two 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.