Czech National Bank Purchases Shares of 10,894 Packaging Co. of America (NYSE:PKG)

Czech National Bank purchased a new stake in Packaging Co. of America (NYSE:PKGGet Rating) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,894 shares of the industrial products company’s stock, valued at approximately $1,223,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. OmniStar Financial Group Inc. lifted its stake in Packaging Co. of America by 3.5% in the second quarter. OmniStar Financial Group Inc. now owns 2,280 shares of the industrial products company’s stock valued at $313,000 after buying an additional 77 shares during the period. 180 Wealth Advisors LLC increased its holdings in shares of Packaging Co. of America by 5.7% during the second quarter. 180 Wealth Advisors LLC now owns 1,456 shares of the industrial products company’s stock valued at $202,000 after acquiring an additional 79 shares in the last quarter. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Packaging Co. of America by 1.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 6,246 shares of the industrial products company’s stock valued at $975,000 after acquiring an additional 82 shares in the last quarter. Ancora Advisors LLC increased its holdings in shares of Packaging Co. of America by 15.3% during the first quarter. Ancora Advisors LLC now owns 633 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 84 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Packaging Co. of America by 2.3% during the second quarter. Exchange Traded Concepts LLC now owns 4,103 shares of the industrial products company’s stock valued at $564,000 after acquiring an additional 92 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PKG. BMO Capital Markets decreased their price objective on Packaging Co. of America from $155.00 to $130.00 in a report on Wednesday, October 26th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Friday. Truist Financial decreased their price objective on Packaging Co. of America from $175.00 to $152.00 and set a “buy” rating for the company in a report on Thursday, September 29th. Wells Fargo & Company upped their price target on Packaging Co. of America from $124.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, January 9th. Finally, Bank of America downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $146.00 to $139.00 in a report on Thursday, December 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $135.22.

Packaging Co. of America Stock Down 0.4 %

PKG stock opened at $135.40 on Friday. The stock’s fifty day simple moving average is $131.12 and its two-hundred day simple moving average is $130.69. The company has a current ratio of 3.02, a quick ratio of 1.99 and a debt-to-equity ratio of 0.63. Packaging Co. of America has a 1-year low of $110.56 and a 1-year high of $168.50. The stock has a market cap of $12.53 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.98 and a beta of 0.86.

Packaging Co. of America (NYSE:PKGGet Rating) last issued its quarterly earnings results on Monday, October 24th. The industrial products company reported $2.83 EPS for the quarter, meeting analysts’ consensus estimates of $2.83. Packaging Co. of America had a return on equity of 28.32% and a net margin of 12.09%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the firm earned $2.69 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts expect that Packaging Co. of America will post 11.02 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Monday, December 19th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 16th. This represents a $5.00 dividend on an annualized basis and a yield of 3.69%. Packaging Co. of America’s dividend payout ratio (DPR) is 45.54%.

Packaging Co. of America Company Profile

(Get Rating)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

See Also

Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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