Packaging Co. of America (NYSE:PKG) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP lifted its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 98.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 353,554 shares of the industrial products company's stock after buying an additional 175,774 shares during the quarter. Two Sigma Investments LP owned approximately 0.39% of Packaging Co. of America worth $79,596,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Merit Financial Group LLC purchased a new stake in Packaging Co. of America during the 4th quarter worth about $390,000. Sanibel Captiva Trust Company Inc. acquired a new position in Packaging Co. of America in the fourth quarter valued at approximately $222,000. HB Wealth Management LLC boosted its holdings in Packaging Co. of America by 3.4% in the fourth quarter. HB Wealth Management LLC now owns 9,340 shares of the industrial products company's stock valued at $2,103,000 after purchasing an additional 308 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in Packaging Co. of America during the fourth quarter worth approximately $210,000. Finally, Aaron Wealth Advisors LLC boosted its holdings in shares of Packaging Co. of America by 22.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,161 shares of the industrial products company's stock valued at $261,000 after buying an additional 211 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 0.1%

Shares of PKG stock opened at $194.37 on Tuesday. The business's fifty day moving average price is $189.53 and its 200 day moving average price is $214.00. The firm has a market capitalization of $17.49 billion, a PE ratio of 21.77, a P/E/G ratio of 2.41 and a beta of 0.85. 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.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results 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. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates 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, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 2.57%. Packaging Co. of America's payout ratio is currently 52.30%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PKG shares. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. 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. 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 report on Friday, May 9th. Finally, 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 research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of "Moderate Buy" and an average target price of $226.60.

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.

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