Teza Capital Management LLC Buys Shares of 15,604 Packaging Co. of America (NYSE:PKG)

Teza Capital Management LLC purchased a new position in Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,604 shares of the industrial products company's stock, valued at approximately $3,513,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter worth $44,000. Lazard Asset Management LLC grew 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 acquiring an additional 186 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at about $48,000. Rialto Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at about $63,000. Finally, Intact Investment Management Inc. bought a new position in shares of Packaging Co. of America during the fourth quarter valued at about $68,000. Institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial cut 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 lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company reaffirmed 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 note on Friday, May 9th. Three research 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.60.

Packaging Co. of America Stock Down 1.1%

PKG traded down $2.14 on Friday, hitting $190.39. The company had a trading volume of 194,917 shares, compared to its average volume of 716,487. The stock has a fifty day simple moving average of $189.33 and a 200-day simple moving average of $213.44. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a market capitalization of $17.13 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 52-week low of $172.72 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, beating analysts' consensus estimates of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. As a group, equities analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

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

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.