Voleon Capital Management LP Buys Shares of 15,309 Packaging Co. of America (NYSE:PKG)

Voleon Capital Management LP purchased a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,309 shares of the industrial products company's stock, valued at approximately $3,447,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after buying an additional 98 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth about $44,000. Golden State Wealth Management LLC purchased a new stake in Packaging Co. of America during the 4th quarter valued at about $48,000. Rialto Wealth Management LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at about $63,000. Finally, Intact Investment Management Inc. purchased a new position in Packaging Co. of America in the 4th quarter worth approximately $68,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Trading Up 2.2 %

Shares of NYSE PKG traded up $3.96 during mid-day trading on Friday, reaching $187.33. 551,309 shares of the company's stock were exchanged, compared to its average volume of 699,819. The company's 50-day moving average is $193.56 and its 200-day moving average is $217.01. 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 firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 52-week low of $172.72 and a 52-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, topping the consensus estimate of $2.21 by $0.10. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

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 $1.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.67%. Packaging Co. of America's dividend payout ratio (DPR) is presently 52.30%.

Wall Street Analyst Weigh In

PKG has been the subject of several recent research reports. Citigroup increased their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Wells Fargo & Company cut their target price on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Finally, Truist Financial decreased their target price on shares of 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. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.60.

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.