Adage Capital Partners GP L.L.C. Buys 54,060 Shares of Packaging Co. of America (NYSE:PKG)

Adage Capital Partners GP L.L.C. grew its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 91.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,300 shares of the industrial products company's stock after purchasing an additional 54,060 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.13% of Packaging Co. of America worth $25,507,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Fortitude Family Office LLC boosted its position in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $44,000. Golden State Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $48,000. Rialto Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $63,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $68,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PKG has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Citigroup raised their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Truist Financial decreased their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $231.60.

Packaging Co. of America Stock Down 0.8 %

NYSE PKG traded down $1.40 during trading on Thursday, reaching $184.21. The company's stock had a trading volume of 210,010 shares, compared to its average volume of 697,050. The business has a 50-day moving average price of $194.60 and a 200-day moving average price of $217.49. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1-year low of $172.37 and a 1-year high of $250.82. The stock has a market capitalization of $16.57 billion, a PE ratio of 20.65, a PEG ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. On average, research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is currently 52.30%.

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.