Shell Asset Management Co. Raises Stock Position in Packaging Co. of America (NYSE:PKG)

Shell Asset Management Co. boosted its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 75.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,737 shares of the industrial products company's stock after purchasing 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 institutional investors and hedge funds also recently bought and sold shares of PKG. Norges Bank purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at $258,928,000. Balyasny Asset Management L.P. grew its position in Packaging Co. of America by 106.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 848,395 shares of the industrial products company's stock valued at $190,999,000 after acquiring an additional 438,012 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Packaging Co. of America by 642.7% during the fourth quarter. Point72 Asset Management L.P. now owns 271,806 shares of the industrial products company's stock worth $61,192,000 after purchasing an additional 235,211 shares during the period. Raymond James Financial Inc. purchased a new stake in Packaging Co. of America during the fourth quarter worth about $50,175,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Packaging Co. of America by 415.1% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 261,458 shares of the industrial products company's stock worth $58,862,000 after purchasing an additional 210,700 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Down 1.3%

Packaging Co. of America stock traded down $2.61 during trading on Wednesday, reaching $190.96. The stock had a trading volume of 559,865 shares, compared to its average volume of 716,912. 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 $172.72 and a 52-week high of $250.82. The stock has a market cap of $17.18 billion, a PE ratio of 21.38, a P/E/G ratio of 2.41 and a beta of 0.85. The business has a 50 day moving average price of $189.56 and a 200 day moving average price of $213.86.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The business 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%. On average, analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend yield of 2.62%. Packaging Co. of America's dividend payout ratio is currently 52.30%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company restated an "equal weight" rating and issued a $180.00 price objective (down previously from $205.00) on shares of Packaging Co. of America in a report 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 note on Thursday, February 13th. Truist Financial cut their price objective on 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. Finally, StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Three research 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.