BNP Paribas Financial Markets Acquires 139,628 Shares of Packaging Co. of America (NYSE:PKG)

BNP Paribas Financial Markets lifted its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 114.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,269 shares of the industrial products company's stock after purchasing an additional 139,628 shares during the quarter. BNP Paribas Financial Markets owned 0.29% of Packaging Co. of America worth $58,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $258,928,000. Raymond James Financial Inc. bought a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $50,175,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Packaging Co. of America by 415.1% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 261,458 shares of the industrial products company's stock valued at $58,862,000 after acquiring an additional 210,700 shares in the last quarter. Cartenna Capital LP raised its holdings in shares of Packaging Co. of America by 159.0% during the fourth quarter. Cartenna Capital LP now owns 246,007 shares of the industrial products company's stock valued at $55,384,000 after acquiring an additional 151,007 shares in the last quarter. Finally, Conning Inc. bought a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $32,329,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PKG. StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Truist Financial decreased their price objective on 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. Wells Fargo & Company reiterated an "equal weight" rating and issued a $180.00 price objective (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and an average price target of $226.60.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock traded up $7.05 during trading on Monday, hitting $188.47. 268,646 shares of the company's stock traded hands, compared to its average volume of 705,374. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1 year low of $172.72 and a 1 year high of $250.82. The stock has a market capitalization of $16.95 billion, a P/E ratio of 21.07, a PEG ratio of 2.41 and a beta of 0.85. The business has a 50-day simple moving average of $190.72 and a 200-day simple moving average of $215.51.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.12 billion. As a group, analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, June 13th. 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.