Packaging Co. of America (NYSE:PKG) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 106.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 848,395 shares of the industrial products company's stock after acquiring an additional 438,012 shares during the quarter. Balyasny Asset Management L.P. owned about 0.94% of Packaging Co. of America worth $190,999,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fortitude Family Office LLC increased 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 worth $37,000 after purchasing an additional 98 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Packaging Co. of America during the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth approximately $48,000. Rialto Wealth Management LLC purchased a new stake in Packaging Co. of America in the fourth quarter valued at approximately $63,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $68,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock traded down $1.04 on Tuesday, reaching $180.18. 792,412 shares of the stock were exchanged, compared to its average volume of 702,595. The firm has a market capitalization of $16.20 billion, a PE ratio of 20.18, a PEG ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82. The business has a fifty day moving average price of $192.32 and a two-hundred day moving average price of $216.43. 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 (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.10. The company had revenue of $2.14 billion for 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%. As a group, research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is currently 52.30%.

Analysts Set New Price Targets

Several analysts recently commented on PKG shares. 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. Citigroup upped their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Wells Fargo & Company dropped their price target 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. 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 investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and an average target price of $231.60.

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.