Point72 Hong Kong Ltd Boosts Stock Holdings in Packaging Co. of America (NYSE:PKG)

Point72 Hong Kong Ltd grew its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 1,199.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,286 shares of the industrial products company's stock after acquiring an additional 43,648 shares during the period. Point72 Hong Kong Ltd owned about 0.05% of Packaging Co. of America worth $10,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew 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 acquiring an additional 133,575 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $691,138,000 after acquiring an additional 132,836 shares in the last quarter. Geode Capital Management LLC grew its stake 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 worth $531,540,000 after acquiring an additional 29,427 shares in the last quarter. Invesco Ltd. grew its stake in shares of 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 purchasing an additional 14,775 shares in the last quarter. Finally, Boston Partners grew its stake in shares of 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 purchasing an additional 101,755 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Co. of America Stock Performance

PKG traded up $3.58 on Friday, reaching $194.33. The company had a trading volume of 829,408 shares, compared to its average volume of 716,897. Packaging Co. of America has a 1 year low of $172.72 and a 1 year high of $250.82. The stock has a market capitalization of $17.49 billion, a PE ratio of 21.76, a P/E/G 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. The stock has a 50-day moving average price of $189.59 and a 200-day moving average price of $214.35.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results 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. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. As a group, research analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.57%. Packaging Co. of America's payout ratio is 52.30%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PKG. Truist Financial lowered their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company reiterated an "equal weight" rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Finally, 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. 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. According to data from MarketBeat.com, the stock currently 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.