Packaging Co. of America (NYSE:PKG) Shares Acquired by Woodline Partners LP

Woodline Partners LP lifted its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 25.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,428 shares of the industrial products company's stock after buying an additional 11,086 shares during the period. Woodline Partners LP owned approximately 0.06% of Packaging Co. of America worth $12,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Jackson Creek Investment Advisors LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $293,000. AlphaQuest LLC increased its holdings in 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 valued at $2,180,000 after purchasing an additional 1,954 shares during the last quarter. Distillate Capital Partners LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $15,828,000. Strategic Financial Concepts LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $6,966,000. Finally, Sciencast Management LP acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $2,853,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PKG shares. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Truist Financial dropped 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 upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Three equities research 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 company's stock. According to MarketBeat, Packaging Co. of America has an average rating of "Moderate Buy" and a consensus price target of $226.60.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $190.96 on Thursday. The company has a fifty day simple moving average of $189.45 and a two-hundred day simple moving average of $213.70. The company has a market cap of $17.18 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52 week low of $172.72 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, equities 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.62%. Packaging Co. of America's dividend payout ratio (DPR) is currently 52.30%.

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.

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