Gallo Partners LP Acquires Shares of 17,884 Packaging Co. of America (NYSE:PKG)

Gallo Partners LP bought a new stake in Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,884 shares of the industrial products company's stock, valued at approximately $4,026,000. Packaging Co. of America makes up about 3.0% of Gallo Partners LP's investment portfolio, making the stock its 3rd largest position.

Several other hedge funds also recently modified their holdings of PKG. Passumpsic Savings Bank purchased a new stake in shares of Packaging Co. of America in the third quarter valued at $212,000. Aldebaran Financial Inc. purchased a new stake in Packaging Co. of America in the 3rd quarter valued at about $215,000. Wilmington Savings Fund Society FSB purchased a new stake in Packaging Co. of America in the 3rd quarter valued at about $836,000. Franklin Resources Inc. increased its stake in shares of Packaging Co. of America by 4.3% during the 3rd quarter. Franklin Resources Inc. now owns 130,628 shares of the industrial products company's stock valued at $28,736,000 after acquiring an additional 5,339 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Packaging Co. of America by 8.4% during the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company's stock worth $99,194,000 after acquiring an additional 35,614 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Up 2.2 %

Packaging Co. of America stock traded up $3.96 during trading on Friday, reaching $187.33. 551,309 shares of the company's stock were exchanged, compared to its average volume of 699,819. Packaging Co. of America has a 52-week low of $172.72 and a 52-week high of $250.82. The firm has a market cap of $16.85 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company's 50-day moving average is $193.56 and its two-hundred day moving average is $217.01.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued 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 company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. On average, analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Truist Financial reduced their target price 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. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $231.60.

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.