New Age Alpha Advisors LLC Grows Holdings in Packaging Co. of America (NYSE:PKG)

New Age Alpha Advisors LLC raised its position in shares of Packaging Co. of America (NYSE:PKG) by 5,561.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,642 shares of the industrial products company’s stock after purchasing an additional 4,560 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Packaging Co. of America were worth $1,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Packaging Co. of America in the 4th quarter worth $258,928,000. Stifel Financial Corp lifted its holdings in shares of Packaging Co. of America by 1,462.2% in the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after buying an additional 536,389 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Packaging Co. of America during the 4th quarter valued at about $50,175,000. Conning Inc. purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at about $32,329,000. Finally, Two Sigma Advisers LP increased its holdings in shares of Packaging Co. of America by 218.1% in the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock worth $44,739,000 after purchasing an additional 142,400 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PKG has been the subject of several research analyst reports. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial restated a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Citigroup boosted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $197.94 on Tuesday. 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’s fifty day moving average is $209.67 and its two-hundred day moving average is $222.21. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The company has a market capitalization of $17.77 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

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.