Wellington Management Group LLP Boosts Stock Holdings in Packaging Co. of America (NYSE:PKG)

Wellington Management Group LLP raised its position in Packaging Co. of America (NYSE:PKG - Free Report) by 134.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 28,260 shares of the industrial products company's stock after acquiring an additional 16,190 shares during the period. Wellington Management Group LLP's holdings in Packaging Co. of America were worth $6,362,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its position in Packaging Co. of America by 1.7% in the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock valued at $582,000 after acquiring an additional 43 shares in the last quarter. Sigma Planning Corp raised its stake in shares of Packaging Co. of America by 2.3% in the fourth quarter. Sigma Planning Corp now owns 2,568 shares of the industrial products company's stock worth $578,000 after purchasing an additional 58 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Packaging Co. of America by 1.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,637 shares of the industrial products company's stock valued at $819,000 after purchasing an additional 66 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Packaging Co. of America by 1.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,771 shares of the industrial products company's stock valued at $849,000 after purchasing an additional 70 shares in the last quarter. Finally, Colonial Trust Co SC boosted its position in shares of Packaging Co. of America by 3.9% during the fourth quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company's stock valued at $466,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PKG. Truist Financial lowered their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. UBS Group started coverage on shares of Packaging Co. of America in a research report on Wednesday. They issued a "neutral" rating and a $200.00 price objective for the company. Finally, 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. Four 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $222.17.

Packaging Co. of America Stock Performance

PKG traded up $1.64 during trading on Friday, hitting $196.34. 337,264 shares of the company traded hands, compared to its average volume of 729,172. The firm has a market cap of $17.67 billion, a P/E ratio of 21.98, a price-to-earnings-growth 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 one year low of $172.72 and a one year high of $250.82. The stock's fifty day moving average is $188.33 and its 200 day moving average is $210.30.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results 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 net margin of 9.60% and a return on equity of 19.67%. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. 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 company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.55%. Packaging Co. of America's dividend payout ratio is presently 52.30%.

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.