Alyeska Investment Group L.P. Purchases New Shares in Packaging Co. of America (NYSE:PKG)

Alyeska Investment Group L.P. acquired a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 29,787 shares of the industrial products company's stock, valued at approximately $6,706,000.

Several other institutional investors have 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 valued at $37,000 after purchasing an additional 98 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $48,000. Rialto Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $63,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $68,000. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Down 3.3 %

PKG opened at $181.21 on Tuesday. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82. The company has a market cap of $16.30 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. 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 50 day moving average of $192.93 and a 200 day moving average of $216.68.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.10. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's payout ratio is 52.30%.

Analyst Ratings Changes

PKG has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Citigroup boosted 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. Truist Financial decreased their price objective 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. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Packaging Co. of America currently has an average rating of "Moderate Buy" and an average price target of $231.60.

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.

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