Russell Investments Group Ltd. lowered its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,293 shares of the industrial products company's stock after selling 20,752 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Packaging Co. of America worth $32,033,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Fortitude Family Office LLC grew its position in Packaging Co. of America by 150.8% in 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 purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter valued at $48,000. Rialto Wealth Management LLC purchased a new stake in Packaging Co. of America during the 4th quarter worth $63,000. Finally, Intact Investment Management Inc. purchased a new stake in Packaging Co. of America during the 4th quarter worth $68,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.
Packaging Co. of America Stock Performance
PKG stock traded up $3.50 during trading on Friday, hitting $188.95. 830,656 shares of the company's stock traded hands, compared to its average volume of 698,863. The stock has a market capitalization of $16.99 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The stock has a fifty day moving average price of $200.77 and a two-hundred day moving average price of $220.10. 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 (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 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%. As a group, equities analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.
Packaging Co. of America Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 2.65%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.
Analyst Ratings Changes
PKG has been the subject of several recent analyst reports. Wells Fargo & Company lowered 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. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Truist Financial reaffirmed a "buy" rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Finally, Citigroup upped 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 report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.80.
Read Our Latest Stock Report on Packaging Co. of America
Packaging Co. of America 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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