MML Investors Services LLC Grows Stake in Packaging Co. of America (NYSE:PKG)

MML Investors Services LLC increased its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 30.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,209 shares of the industrial products company's stock after buying an additional 5,123 shares during the period. MML Investors Services LLC's holdings in Packaging Co. of America were worth $5,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position 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 worth $2,571,821,000 after buying an additional 133,575 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 acquiring an additional 132,836 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Packaging Co. of America by 1.3% in 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 purchasing an additional 29,427 shares in the last quarter. Invesco Ltd. grew its position in shares of Packaging Co. of America by 0.8% in the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock valued at $417,187,000 after purchasing an additional 14,775 shares during the last quarter. Finally, Boston Partners increased its stake in shares of 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 purchasing an additional 101,755 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PKG shares. Wells Fargo & Company lowered their target price on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research 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 report on Thursday, February 13th. Citigroup lifted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Finally, Truist Financial reduced their price objective on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Packaging Co. of America presently has an average rating of "Moderate Buy" and an average target price of $231.60.

Packaging Co. of America Trading Down 0.5 %

Shares of PKG traded down $0.93 during mid-day trading on Thursday, reaching $184.68. The company had a trading volume of 159,695 shares, compared to its average volume of 696,853. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. 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 firm has a fifty day simple moving average of $194.60 and a 200-day simple moving average of $217.49. Packaging Co. of America has a fifty-two week low of $172.37 and a fifty-two week high of $250.82.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion during 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%. On average, sell-side analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a $1.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.71%. Packaging Co. of America's payout ratio is 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.