8,700 Shares in Packaging Co. of America (NYSE:PKG) Purchased by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,700 shares of the industrial products company's stock, valued at approximately $1,959,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PKG. Franklin Resources Inc. lifted its stake in Packaging Co. of America by 4.3% in the third quarter. Franklin Resources Inc. now owns 130,628 shares of the industrial products company's stock worth $28,736,000 after purchasing an additional 5,339 shares during the last quarter. Principal Financial Group Inc. boosted its position in Packaging Co. of America by 8.4% during the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company's stock valued at $99,194,000 after buying an additional 35,614 shares during the period. Nordea Investment Management AB grew its holdings in Packaging Co. of America by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 7,438 shares of the industrial products company's stock worth $1,676,000 after acquiring an additional 291 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 98 shares during the period. Finally, Czech National Bank raised its stake in shares of Packaging Co. of America by 6.4% during the fourth quarter. Czech National Bank now owns 19,334 shares of the industrial products company's stock valued at $4,353,000 after acquiring an additional 1,171 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Up 3.6%

PKG traded up $6.50 during trading on Monday, reaching $187.92. The stock had a trading volume of 295,992 shares, compared to its average volume of 935,898. 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 company has a market capitalization of $16.90 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 2.41 and a beta of 0.85. The stock's 50 day moving average is $190.72 and its two-hundred day moving average is $215.51. Packaging Co. of America has a one year low of $172.71 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (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 analysts' expectations of $2.12 billion. As a group, analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business 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 $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PKG shares. Truist Financial cut their target price 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. 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. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday. Finally, StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $226.60.

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.