10,031 Shares in Packaging Co. of America (NYSE:PKG) Purchased by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,031 shares of the industrial products company's stock, valued at approximately $2,258,000.

A number of other hedge funds have also recently added to or reduced their stakes in PKG. SYM FINANCIAL Corp grew its stake in Packaging Co. of America by 3.1% in the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company's stock valued at $316,000 after buying an additional 42 shares during the last quarter. Mather Group LLC. increased its position in Packaging Co. of America by 1.7% during the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock worth $582,000 after buying an additional 43 shares during the period. UMB Bank n.a. grew its position in shares of Packaging Co. of America by 3.9% during the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company's stock worth $262,000 after purchasing an additional 44 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in Packaging Co. of America by 3.3% in the 4th 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 in the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in Packaging Co. of America by 3.9% in the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company's stock valued at $312,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PKG shares. Wells Fargo & Company decreased their target price on shares of Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Citigroup upped their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Truist Financial decreased 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 note on Tuesday, April 22nd. Finally, 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. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.60.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG traded up $3.96 during trading on Friday, hitting $187.33. 551,309 shares of the company were exchanged, compared to its average volume of 700,721. The company has a market cap of $16.85 billion, a PE ratio of 20.98, a P/E/G 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 company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock has a 50 day moving average of $193.56 and a 200 day moving average of $216.95.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $2.12 billion. As a group, equities research analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.67%. Packaging Co. of America's dividend payout ratio (DPR) is 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.