Packaging Co. of America (NYSE:PKG) Shares Bought by Focus Partners Wealth

Focus Partners Wealth grew its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 42.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,696 shares of the industrial products company's stock after acquiring an additional 2,290 shares during the period. Focus Partners Wealth's holdings in Packaging Co. of America were worth $1,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Packaging Co. of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after purchasing an additional 133,575 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Packaging Co. of America by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock valued at $691,138,000 after buying an additional 132,836 shares during the last quarter. Geode Capital Management LLC raised its stake 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 valued at $531,540,000 after buying an additional 29,427 shares in the last quarter. Invesco Ltd. lifted its holdings in Packaging Co. of America by 0.8% during the 4th 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 during the last quarter. Finally, Boston Partners lifted its holdings in Packaging Co. of America by 7.0% during the 4th 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 during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. 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. Wells Fargo & Company restated an "equal weight" rating and issued a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Finally, Truist Financial decreased their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $226.60.

Packaging Co. of America Stock Performance

NYSE PKG traded down $0.97 during trading hours on Tuesday, hitting $193.47. The company had a trading volume of 512,969 shares, compared to its average volume of 715,942. The business has a fifty day simple moving average of $189.53 and a 200-day simple moving average of $214.00. The firm has a market cap of $17.41 billion, a P/E ratio of 21.67, 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 fifty-two week low of $172.72 and a fifty-two week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.12 billion. Equities 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid 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 yield of 2.58%. Packaging Co. of America's payout ratio is 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.