Tredje AP fonden reduced its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,541 shares of the industrial products company's stock after selling 2,541 shares during the quarter. Tredje AP fonden's holdings in Packaging Co. of America were worth $572,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $1,774,000. Avantax Advisory Services Inc. increased its position in Packaging Co. of America by 3.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 17,396 shares of the industrial products company's stock worth $3,916,000 after buying an additional 624 shares during the period. Farther Finance Advisors LLC lifted its stake in Packaging Co. of America by 19.0% in the fourth quarter. Farther Finance Advisors LLC now owns 703 shares of the industrial products company's stock valued at $158,000 after buying an additional 112 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Packaging Co. of America by 1.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,637 shares of the industrial products company's stock valued at $819,000 after acquiring an additional 66 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Packaging Co. of America by 28.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,879 shares of the industrial products company's stock valued at $423,000 after acquiring an additional 421 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on PKG. 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 research report on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Truist Financial restated a "buy" rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $233.00.
View Our Latest Stock Analysis on Packaging Co. of America
Packaging Co. of America Stock Performance
NYSE:PKG traded up $0.73 during mid-day trading on Wednesday, reaching $198.34. The stock had a trading volume of 811,275 shares, compared to its average volume of 614,678. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The business has a 50 day simple moving average of $215.91 and a 200 day simple moving average of $222.69. The firm has a market capitalization of $17.81 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.
Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 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, analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.
Packaging Co. of America Dividend Announcement
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 given 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 yield of 2.52%. Packaging Co. of America's payout ratio is currently 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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