Raiffeisen Bank International AG Buys New Stake in Packaging Co. of America (NYSE:PKG)

Raiffeisen Bank International AG acquired a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,800 shares of the industrial products company's stock, valued at approximately $630,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $44,000. Lazard Asset Management LLC lifted its holdings in Packaging Co. of America by 1,033.3% in the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 186 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Packaging Co. of America in the fourth quarter worth approximately $48,000. Rialto Wealth Management LLC purchased a new position in Packaging Co. of America in the fourth quarter worth approximately $63,000. Finally, Intact Investment Management Inc. acquired a new stake in Packaging Co. of America during the fourth quarter worth $68,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Co. of America Stock Down 1.4%

PKG stock traded down $2.64 during midday trading on Friday, hitting $189.89. The company's stock had a trading volume of 166,171 shares, compared to its average volume of 925,343. The firm has a 50-day simple moving average of $189.33 and a 200-day simple moving average of $213.44. The firm has a market capitalization of $17.09 billion, a P/E ratio of 21.26, a PEG 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 $172.71 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released 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 firm had revenue of $2.14 billion during 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%. As a group, equities analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.63%. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PKG. Truist Financial decreased their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company restated an "equal weight" rating and issued a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Wall Street Zen lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Finally, 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. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $226.60.

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.