AQR Capital Management LLC Has $110.26 Million Holdings in Packaging Co. of America (NYSE:PKG)

AQR Capital Management LLC trimmed its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 489,759 shares of the industrial products company's stock after selling 27,152 shares during the period. AQR Capital Management LLC owned about 0.55% of Packaging Co. of America worth $110,259,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Fortitude Family Office LLC raised its stake in shares of Packaging Co. of America by 150.8% in the 4th 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 during the period. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $44,000. Golden State Wealth Management LLC bought a new stake in Packaging Co. of America in the 4th quarter valued at approximately $48,000. Rialto Wealth Management LLC acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $63,000. Finally, Intact Investment Management Inc. acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $68,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PKG has been the topic of a number of research reports. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Truist Financial cut their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on 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 upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Finally, 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. 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. Based on data from MarketBeat.com, Packaging Co. of America has a consensus rating of "Moderate Buy" and a consensus price target of $231.60.

Packaging Co. of America Trading Down 0.1 %

Packaging Co. of America stock opened at $186.13 on Wednesday. The stock has a 50-day simple moving average of $195.05 and a 200 day simple moving average of $217.71. The stock has a market capitalization of $16.74 billion, a P/E ratio of 20.84, a PEG ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 52 week low of $172.37 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. 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 disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's payout ratio is presently 52.30%.

Packaging Co. of America Company 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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