Quantbot Technologies LP bought a new position in Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,583 shares of the industrial products company's stock, valued at approximately $5,084,000.
A number of other hedge funds have also added to or reduced their stakes in PKG. Larson Financial Group LLC increased its holdings in Packaging Co. of America by 234.7% in the third 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. Fortitude Family Office LLC increased its holdings in shares of Packaging Co. of America by 150.8% during the fourth 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 in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $44,000. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $48,000. Finally, Assetmark Inc. increased its holdings in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 83 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.
Packaging Co. of America Stock Down 0.6 %
Shares of NYSE:PKG traded down $1.15 during mid-day trading on Tuesday, hitting $197.37. 563,312 shares of the company traded hands, compared to its average volume of 613,891. The stock has a market cap of $17.72 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.41 and a beta of 0.77. 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 12-month low of $169.00 and a 12-month high of $250.82. The stock has a 50-day moving average price of $215.91 and a two-hundred day moving average price of $222.69.
Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.53%. Packaging Co. of America's dividend payout ratio is currently 55.99%.
Wall Street Analysts Forecast Growth
PKG has been the subject of several recent research reports. Citigroup boosted their price objective on 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 boosted their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. 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 cut 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. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.
Get Our Latest Stock Analysis on PKG
Packaging Co. of America Company Profile
(
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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