Commerce Bank lifted its stake in shares of Packaging Co. in the third quarter. of America (NYSE:PKG – Get ) rose 6.4%, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,063 shares of the industrial products company’s stock after acquiring an additional 3,623 shares during the quarter. Commerce Bank owned 0.06% of Packaging Co. as of its most recent SEC filing. the US was worth $6,744,000.
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A number of other institutional investors have also recently made changes to their positions in PKG. Clear Street Markets LLC increased its holdings in shares of Packaging Co. in the 2nd quarter. of America increased by 397.4%. Clear Street Markets LLC now owns 194 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 155 shares in the last quarter. Bogart Wealth LLC boosted its holdings in shares of Packaging Co. in the second quarter. of America increased by 455.6 percent. Bogart Wealth LLC now owns 200 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 164 shares during the last quarter. Private Trust Co. NA bought about $28,000 in shares of Packaging Co. during the second quarter. of America bought a new position. AllSquare Wealth Management LLC lifted its holdings in shares of Packaging Co. in the third quarter. of America increased by 170.0 percent. AllSquare Wealth Management LLC now owns 270 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 170 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC bought a stake in shares of Packaging Co. during the third quarter worth approximately $31,000. of America bought a new position. Hedge funds and other institutional investors own 90.39% of the company’s stock.
Wall Street Analyst Weighs In
PKG has been the subject of many research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Packaging Co. in a report on Thursday, October 27th. of America reduced from 104.00 dollars to 99.00 dollars. Bank of America maintained rating on shares of Packaging Co. in report on Thursday, December 15th. of America from a “buy” rating to a “neutral” rating and reduced their price objective from $146.00 to $139.00. BMO Capital Markets lifted their price objective on shares of Packaging Co. in a report on Wednesday, October 26th. of America reduced from $155.00 to $130.00. Citigroup lifted their price objective on shares of Packaging Co. in a report on Wednesday, January 4th. of America raised from $123.00 to $130.00. Finally, Truist Financial raised their price objective on shares of Packaging Co. of America down from $175.00 to $152.00 and set a “buy” rating on the stock in a report on Thursday, September 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $135.22, according to MarketBeat data.
American trade increased by 7.3%
Stock Packaging Co. of America opened at $138.62 on Friday. The company has a market cap of $12.83 billion, a P/E ratio of 12.59, a PEG ratio of 2.86 and a beta of 0.86. The company has a debt ratio of 0.63, a current ratio of 3.02 and a quick ratio of 1.99. Packaging Co. of America has a 1 year low of $110.56 and a 1 year high of $168.50. The firm’s 50-day moving average is $132.20 and its 200-day moving average is $130.34.
Packaging Co. of America (NYSE:PKG – Get Rating ) last posted its quarterly earnings data on Thursday, January 26th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.11. The firm’s revenue for the quarter was $1.98 billion, compared to analysts’ expectations of $2.05 billion. Packaging Corporation of America had a net margin of 12.12% and a return on equity of 26.58%. The company’s revenue for the quarter decreased by 3.2 percent compared to the same quarter last year. During the same quarter last year, the business posted earnings of $2.76 per share. On average, equities analysts anticipate that Packaging Corporation of America will post 9.05 earnings per share for the current fiscal year.
Packaging Company of America Announces Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Monday, December 19th were issued a dividend of $1.25 per share. This represents an annual dividend of $5.00 and a dividend yield of 3.61%. The previous distribution date for this distribution was Friday, December 16. Packaging Co.’s payout ratio. America’s is now 45.41%.
Packaging Co. of America Profile
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The Packaging Company of America manufactures and sells corrugated container and packaging products in the United States. The company operates through Packaging and Paper segments. The packaging segment offers a variety of container and linear packaging products, such as traditional shipping containers used to protect and transport manufactured goods; multi-colored boxes and displays to help market the packaged product at retail locations; and protective packaging products for honey, as well as packaging for meat, fresh fruits and vegetables, processed foods, beverages, and other industrial and consumer products.
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