Prudential Financial Inc. decreased its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 16.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,878 shares of the industrial products company's stock after selling 10,378 shares during the quarter. Prudential Financial Inc. owned 0.06% of Packaging Co. of America worth $11,454,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC increased its stake 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 period. Larson Financial Group LLC grew its holdings in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth $44,000. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America in the fourth quarter valued at about $48,000. Finally, Rialto Wealth Management LLC bought a new stake in Packaging Co. of America during the fourth quarter worth about $63,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.
Packaging Co. of America Trading Up 0.4 %
Shares of PKG stock traded up $0.72 during trading hours on Wednesday, hitting $200.65. 94,494 shares of the company's stock traded hands, compared to its average volume of 929,293. The stock has a market cap of $18.02 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The stock's 50 day simple moving average is $208.82 and its 200 day simple moving average is $222.13. 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.
Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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, sell-side analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.
Packaging Co. of America Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio is currently 55.99%.
Wall Street Analyst Weigh In
Several research firms have commented on PKG. Citigroup raised their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and upped their target price for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Saturday. Wells Fargo & Company decreased their target price on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Finally, 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 note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of "Moderate Buy" and an average target price of $233.00.
Check Out Our Latest Report on Packaging Co. of America
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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