Legal & General Group Plc decreased its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 540,516 shares of the industrial products company's stock after selling 145,711 shares during the period. Legal & General Group Plc owned approximately 0.60% of Packaging Co. of America worth $121,686,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC grew its stake in shares of Packaging Co. of America by 17.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company's stock worth $4,366,000 after purchasing an additional 2,946 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter worth $293,000. AlphaQuest LLC grew its holdings in shares of Packaging Co. of America by 25.3% in 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 during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth $6,966,000. Finally, Sciencast Management LP purchased a new stake in shares of Packaging Co. of America during the fourth quarter valued at $2,853,000. 89.78% of the stock is currently owned by institutional investors.
Packaging Co. of America Stock Down 1.2 %
Shares of Packaging Co. of America stock traded down $2.21 on Tuesday, hitting $188.44. 237,527 shares of the company traded hands, compared to its average volume of 696,915. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The company 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 cap of $16.95 billion, a PE ratio of 21.10, a PEG ratio of 2.41 and a beta of 0.84.
Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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%. Sell-side analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.
Packaging Co. of America Announces Dividend
The firm 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 dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.65%. Packaging Co. of America's dividend payout ratio (DPR) is 55.99%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. Citigroup lifted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. 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 report on Wednesday, December 18th. Truist Financial reiterated a "buy" rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their price target on Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $237.80.
Check Out Our Latest Report 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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