Centiva Capital LP Boosts Position in Packaging Co. of America (NYSE:PKG)

Centiva Capital LP boosted its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 252.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,547 shares of the industrial products company's stock after buying an additional 11,139 shares during the period. Centiva Capital LP's holdings in Packaging Co. of America were worth $3,500,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PKG. Jackson Creek Investment Advisors LLC bought a new position in shares of Packaging Co. of America during the fourth quarter valued at $293,000. AlphaQuest LLC boosted its position in shares of Packaging Co. of America by 25.3% in the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock worth $2,180,000 after purchasing an additional 1,954 shares during the last quarter. Distillate Capital Partners LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $15,828,000. Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at $6,966,000. Finally, Sciencast Management LP bought a new position in shares of Packaging Co. of America during the 4th quarter valued at about $2,853,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Trading Down 1.1 %

Shares of Packaging Co. of America stock traded down $2.00 on Friday, reaching $181.42. 617,068 shares of the company's stock were exchanged, compared to its average volume of 707,042. The company has a market capitalization of $16.31 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 52 week low of $172.72 and a 52 week high of $250.82. The firm's 50-day moving average is $190.72 and its two-hundred day moving average is $215.60. 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 (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS 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 business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Sell-side analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.76%. Packaging Co. of America's payout ratio is currently 52.30%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial lowered 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 note on Tuesday, April 22nd. Wells Fargo & Company reissued an "equal weight" rating and set a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Finally, StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Three 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.60.

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.