Cartenna Capital LP Acquires 151,007 Shares of Packaging Co. of America (NYSE:PKG)

Cartenna Capital LP raised its position in Packaging Co. of America (NYSE:PKG - Free Report) by 159.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,007 shares of the industrial products company's stock after purchasing an additional 151,007 shares during the quarter. Packaging Co. of America accounts for approximately 2.7% of Cartenna Capital LP's holdings, making the stock its 13th largest holding. Cartenna Capital LP owned 0.27% of Packaging Co. of America worth $55,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SYM FINANCIAL Corp increased its position in shares of Packaging Co. of America by 3.1% in the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company's stock valued at $316,000 after acquiring an additional 42 shares during the last quarter. Mather Group LLC. increased its position in shares of Packaging Co. of America by 1.7% in the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock valued at $582,000 after acquiring an additional 43 shares during the last quarter. UMB Bank n.a. increased its position in shares of Packaging Co. of America by 3.9% in the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company's stock valued at $262,000 after acquiring an additional 44 shares during the last quarter. AlphaMark Advisors LLC increased its position in shares of Packaging Co. of America by 3.9% in the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company's stock valued at $312,000 after acquiring an additional 52 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of Packaging Co. of America by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company's stock valued at $370,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

PKG has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price 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. Truist Financial dropped their price objective on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Finally, Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of "Moderate Buy" and an average price target of $231.60.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock traded down $0.93 on Tuesday, hitting $185.46. The stock had a trading volume of 259,918 shares, compared to its average volume of 958,192. The stock has a market cap of $16.68 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a twelve month low of $172.37 and a twelve month high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The business's 50 day moving average is $195.52 and its two-hundred day moving average is $217.93.

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 business 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%. Analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America's dividend payout ratio is currently 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.