29,787 Shares in Packaging Co. of America (NYSE:PKG) Acquired by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. bought a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 29,787 shares of the industrial products company's stock, valued at approximately $6,706,000.

A number of other hedge funds have also bought and sold shares of PKG. Fortitude Family Office LLC grew its holdings 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 buying an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at about $44,000. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $48,000. Rialto Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth about $63,000. Finally, Intact Investment Management Inc. purchased a new stake in Packaging Co. of America in the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Truist Financial reduced 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 research report on Tuesday, April 22nd. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Seaport Res Ptn upgraded 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 restated an "equal weight" rating and issued a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday. Three equities 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $226.60.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock traded down $2.00 during trading hours on Friday, reaching $181.42. The stock had a trading volume of 617,068 shares, compared to its average volume of 707,042. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82. 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 firm has a market capitalization of $16.31 billion, a PE ratio of 20.32, a PEG ratio of 2.41 and a beta of 0.85. The stock's 50 day moving average is $190.72 and its 200 day moving average is $215.60.

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, topping analysts' consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities 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, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's dividend payout ratio is presently 52.30%.

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.