Packaging Co. of America (NYSE:PKG) Stake Boosted by Toronto Dominion Bank

Toronto Dominion Bank increased its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,789 shares of the industrial products company's stock after purchasing an additional 3,667 shares during the period. Toronto Dominion Bank owned 0.05% of Packaging Co. of America worth $10,759,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Jackson Creek Investment Advisors LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at $293,000. AlphaQuest LLC increased its holdings in shares of Packaging Co. of America by 25.3% in the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock valued at $2,180,000 after buying an additional 1,954 shares in the last quarter. Distillate Capital Partners LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at $15,828,000. Strategic Financial Concepts LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at $6,966,000. Finally, Sciencast Management LP bought a new position in shares of Packaging Co. of America in the fourth quarter valued at $2,853,000. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Down 0.9%

NYSE PKG traded down $1.81 during trading on Friday, reaching $190.72. 594,739 shares of the company's stock were exchanged, compared to its average volume of 719,537. Packaging Co. of America has a fifty-two week low of $172.72 and a fifty-two week high of $250.82. The firm has a market capitalization of $17.16 billion, a PE ratio of 21.36, a P/E/G ratio of 2.41 and a beta of 0.85. 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 company's fifty day simple moving average is $189.20 and its 200-day simple moving average is $212.95.

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 EPS for the quarter, topping 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 firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Sell-side analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's dividend payout ratio is currently 52.30%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PKG. Wall Street Zen cut Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. 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 report on Friday, May 9th. Truist Financial dropped their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. 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 investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $226.60.

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.