JPMorgan Chase & Co. Reduces Holdings in Packaging Co. of America (NYSE:PKG)

JPMorgan Chase & Co. decreased its holdings in Packaging Co. of America (NYSE:PKG) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,074,774 shares of the industrial products company’s stock after selling 280,335 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.31% of Packaging Co. of America worth $467,094,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its position in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America during the 4th quarter valued at about $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter worth approximately $48,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth $63,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $195.40 on Friday. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. 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 business’s 50-day simple moving average is $210.46 and its 200-day simple moving average is $222.16. The firm has a market cap of $17.55 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (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%. As a group, equities research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.56%. Packaging Co. of America’s payout ratio is 55.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PKG shares. Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Truist Financial reiterated 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. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America 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.