Stevens Capital Management LP bought a new position in Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,518 shares of the industrial products company's stock, valued at approximately $567,000.
A number of other large investors have also recently added to or reduced their stakes in PKG. Larson Financial Group LLC raised its holdings in shares of 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 valued at $35,000 after purchasing an additional 115 shares during the last quarter. 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 purchasing an additional 98 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at $44,000. Golden State Wealth Management LLC bought a new stake in Packaging Co. of America during the 4th quarter worth about $48,000. Finally, Rialto Wealth Management LLC bought a new stake in Packaging Co. of America during the 4th quarter worth about $63,000. Institutional investors own 89.78% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group upgraded 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 research note on Wednesday, December 18th. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Citigroup lifted their price objective on shares of 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. Three equities research 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $233.00.
Read Our Latest Research Report on Packaging Co. of America
Packaging Co. of America Stock Performance
Packaging Co. of America stock traded down $2.19 during midday trading on Tuesday, hitting $198.62. The company's stock had a trading volume of 999,426 shares, compared to its average volume of 621,338. The company has a 50-day moving average price of $212.76 and a two-hundred day moving average price of $222.43. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The company has a market cap of $17.84 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.
Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results 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%. As a group, 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 business also recently declared 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 yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 55.99%.
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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