Pallas Capital Advisors LLC Grows Stock Holdings in Packaging Co. of America (NYSE:PKG)

Pallas Capital Advisors LLC raised its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 93.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,493 shares of the industrial products company's stock after purchasing an additional 1,688 shares during the quarter. Pallas Capital Advisors LLC's holdings in Packaging Co. of America were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $44,000. Lazard Asset Management LLC boosted its holdings in Packaging Co. of America by 1,033.3% in the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock worth $45,000 after buying an additional 186 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $48,000. Rialto Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $63,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $64,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on PKG shares. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Seaport Res Ptn upgraded 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 cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Truist Financial cut their price objective on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group initiated coverage on Packaging Co. of America in a report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $222.17.

Packaging Co. of America Trading Down 1.7%

PKG stock traded down $3.35 during trading on Friday, reaching $188.72. 222,370 shares of the stock were exchanged, compared to its average volume of 734,056. 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 firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 2.41 and a beta of 0.84. The business has a 50 day moving average price of $188.79 and a 200-day moving average price of $208.61. 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 released its quarterly earnings data 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. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued 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 2.65%. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

About Packaging Co. of America

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.