Worldquant Millennium Advisors LLC Acquires 4,610 Shares of Packaging Co. of America (NYSE:PKG)

Worldquant Millennium Advisors LLC lifted its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 67.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,421 shares of the industrial products company's stock after purchasing an additional 4,610 shares during the period. Worldquant Millennium Advisors LLC's holdings in Packaging Co. of America were worth $2,571,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Packaging Co. of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock worth $2,571,821,000 after purchasing an additional 133,575 shares during the period. Charles Schwab Investment Management Inc. grew its position in Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock worth $691,138,000 after buying an additional 132,836 shares in the last quarter. Geode Capital Management LLC grew its position in Packaging Co. of America by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock worth $531,540,000 after buying an additional 29,427 shares in the last quarter. Invesco Ltd. grew its position in Packaging Co. of America by 0.8% during the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock worth $417,187,000 after buying an additional 14,775 shares in the last quarter. Finally, Boston Partners grew its position in Packaging Co. of America by 7.0% during the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock worth $352,305,000 after buying an additional 101,755 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Up 0.9%

NYSE PKG opened at $192.48 on Friday. 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 stock's 50 day moving average is $189.33 and its two-hundred day moving average is $213.44. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released 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 company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's dividend payout ratio (DPR) is currently 52.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PKG shares. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Wall Street Zen downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Truist Financial decreased 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 report on Tuesday, April 22nd. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $180.00 target price (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.

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