Packaging Co. of America (NYSE:PKG) Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. lifted its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 75.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,737 shares of the industrial products company's stock after buying an additional 1,604 shares during the period. Shell Asset Management Co.'s holdings in Packaging Co. of America were worth $841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $293,000. AlphaQuest LLC raised its position 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 during the 4th quarter worth $15,828,000. Strategic Financial Concepts LLC purchased a new position in Packaging Co. of America during the 4th quarter worth $6,966,000. Finally, Sciencast Management LP purchased a new position in Packaging Co. of America during the 4th quarter worth $2,853,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Price Performance

PKG stock traded down $2.70 on Friday, reaching $189.84. 166,171 shares of the company's stock were exchanged, compared to its average volume of 925,343. The stock has a fifty day moving average of $189.33 and a 200-day moving average of $213.44. The firm has a market cap of $17.08 billion, a PE ratio of 21.26, a P/E/G 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 twelve month low of $172.71 and a twelve month 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, equities analysts predict 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 2.63%. Packaging Co. of America's payout ratio is currently 52.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PKG. 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. Truist Financial lowered their target price 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. 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. Finally, Wells Fargo & Company reaffirmed 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. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.