Intact Investment Management Inc. bought a new position in Packaging Co. of America (NYSE:PKG – Free Report) in the 4th quarter, Holdings Channel reports. The firm bought 300 shares of the industrial products company’s stock, valued at approximately $68,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after buying an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Packaging Co. of America by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after buying an additional 132,836 shares during the period. Geode Capital Management LLC increased its stake in Packaging Co. of America by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after buying an additional 12,936 shares during the period. FMR LLC increased its stake in Packaging Co. of America by 3.4% in the 3rd quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock worth $231,846,000 after buying an additional 35,827 shares during the period. Finally, Stifel Financial Corp increased its stake in Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after buying an additional 536,389 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on PKG. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company cut their target price on shares of 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. Truist Financial reissued a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, 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 research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.00.
Packaging Co. of America Stock Up 2.4 %
NYSE:PKG opened at $196.68 on Friday. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The stock has a market capitalization of $17.66 billion, a P/E ratio of 22.02, a P/E/G 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. The company’s 50-day simple moving average is $217.04 and its 200-day simple moving average is $222.71.
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%. On average, equities analysts anticipate 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. 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 2.54%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.
Packaging Co. of America Company Profile
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.
Read More
- Five stocks we like better than Packaging Co. of America
- How to Buy Cheap Stocks Step by Step
- Ignore Reports, Apple Won’t Install Starlink with iOS 18.3
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- 3 Ways To Invest In Coffee, Other Than Drinking It
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Co. of America (NYSE:PKG – Free Report).
Receive News & Ratings for Packaging Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.