Toronto Dominion Bank grew its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 8.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,789 shares of the industrial products company's stock after purchasing an additional 3,667 shares during the quarter. Toronto Dominion Bank owned about 0.05% of Packaging Co. of America worth $10,759,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at $238,000. Investment Management Corp VA ADV acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $447,000. Vise Technologies Inc. grew its stake in Packaging Co. of America by 111.2% during the fourth quarter. Vise Technologies Inc. now owns 2,315 shares of the industrial products company's stock worth $521,000 after purchasing an additional 1,219 shares during the period. Orion Capital Management LLC acquired a new stake in Packaging Co. of America during the fourth quarter worth approximately $78,000. Finally, McIlrath & Eck LLC boosted its holdings in Packaging Co. of America by 233.9% in the fourth quarter. McIlrath & Eck LLC now owns 364 shares of the industrial products company's stock worth $82,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.
Packaging Co. of America Stock Performance
NYSE:PKG traded up $0.02 during mid-day trading on Friday, hitting $193.02. The company's stock had a trading volume of 1,062,503 shares, compared to its average volume of 724,197. The business's fifty day moving average is $188.67 and its two-hundred day moving average is $211.49. The stock has a market cap of $17.37 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 1 year low of $172.72 and a 1 year high of $250.82. 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 data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.
Packaging Co. of America Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.59%. Packaging Co. of America's dividend payout ratio (DPR) is presently 52.30%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Wells Fargo & Company restated an "equal weight" rating and issued a $180.00 target price (down from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Wall Street Zen lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. 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, Truist Financial cut their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and an average target price of $226.60.
View Our Latest Stock Analysis on Packaging Co. of America
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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