Hsbc Holdings PLC Boosts Holdings in Packaging Co. of America (NYSE:PKG)

Hsbc Holdings PLC boosted its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 363,089 shares of the industrial products company's stock after purchasing an additional 33,323 shares during the quarter. Hsbc Holdings PLC owned about 0.40% of Packaging Co. of America worth $81,732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PKG. Jackson Creek Investment Advisors LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth $293,000. AlphaQuest LLC grew its holdings in shares of Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock valued at $2,180,000 after purchasing an additional 1,954 shares during the last quarter. Distillate Capital Partners LLC acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $15,828,000. Strategic Financial Concepts LLC bought a new position in Packaging Co. of America in the 4th quarter valued at approximately $6,966,000. Finally, Sciencast Management LP acquired a new stake in Packaging Co. of America in the fourth quarter valued at approximately $2,853,000. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Performance

PKG traded down $0.07 on Tuesday, hitting $186.32. The company's stock had a trading volume of 212,548 shares, compared to its average volume of 697,060. The firm has a market cap of $16.76 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company's 50 day simple moving average is $195.52 and its 200-day simple moving average is $217.93. Packaging Co. of America has a 12 month low of $172.37 and a 12 month high of $250.82. 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 (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Analysts forecast 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 was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.68%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's dividend payout ratio is presently 52.30%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PKG. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. 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 research report on Tuesday, April 22nd. Wells Fargo & Company cut their price target on shares of 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. Citigroup boosted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.