Prudential PLC Has $280,000 Stake in Packaging Co. of America (NYSE:PKG)

Prudential PLC reduced its stake in shares of Packaging Co. of America (NYSE:PKG) by 83.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,245 shares of the industrial products company’s stock after selling 6,250 shares during the quarter. Prudential PLC’s holdings in Packaging Co. of America were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PKG. SYM FINANCIAL Corp increased its position in shares of Packaging Co. of America by 3.1% during the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 42 shares in the last quarter. Mather Group LLC. grew its stake in Packaging Co. of America by 1.7% during the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock worth $582,000 after buying an additional 43 shares during the last quarter. UMB Bank n.a. grew its stake in Packaging Co. of America by 3.9% during the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock worth $262,000 after buying an additional 44 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Packaging Co. of America by 3.9% during the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after buying an additional 52 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its stake in shares of Packaging Co. of America by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 52 shares during the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Down 3.0 %

Shares of NYSE PKG opened at $175.63 on Wednesday. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The firm’s 50-day moving average is $202.67 and its 200-day moving average is $220.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $15.79 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (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%. Equities analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.85%. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PKG. Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Citigroup boosted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

About Packaging Co. of America

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.