GAMMA Investing LLC Buys 618,956 Shares of Packaging Co. of America (NYSE:PKG)

GAMMA Investing LLC increased its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 25,461.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 621,387 shares of the industrial products company's stock after purchasing an additional 618,956 shares during the quarter. GAMMA Investing LLC owned approximately 0.69% of Packaging Co. of America worth $123,047,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC purchased a new position in Packaging Co. of America in the fourth quarter valued at about $250,000. Perigon Wealth Management LLC boosted its stake in Packaging Co. of America by 17.1% in the fourth quarter. Perigon Wealth Management LLC now owns 1,408 shares of the industrial products company's stock valued at $331,000 after acquiring an additional 206 shares during the last quarter. Forsta AP Fonden boosted its stake in Packaging Co. of America by 1.1% in the fourth quarter. Forsta AP Fonden now owns 18,900 shares of the industrial products company's stock valued at $4,255,000 after acquiring an additional 200 shares during the last quarter. Caprock Group LLC boosted its stake in Packaging Co. of America by 18.7% in the fourth quarter. Caprock Group LLC now owns 2,925 shares of the industrial products company's stock valued at $662,000 after acquiring an additional 460 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Packaging Co. of America by 4.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,629 shares of the industrial products company's stock valued at $592,000 after purchasing an additional 119 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PKG has been the topic of several research reports. UBS Group initiated coverage on shares of Packaging Co. of America in a research report on Wednesday. They issued a "neutral" rating and a $200.00 price target 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 report on Tuesday, April 22nd. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Wall Street Zen lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Four 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $222.17.

Packaging Co. of America Price Performance

Shares of NYSE PKG traded up $1.21 during midday trading on Thursday, hitting $194.55. 899,313 shares of the company's stock were exchanged, compared to its average volume of 730,678. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The business's fifty day moving average price is $188.33 and its two-hundred day moving average price is $210.30. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 12-month low of $172.72 and a 12-month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. As a group, research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

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 of this dividend 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 presently 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.