Packaging Co. of America (NYSE:PKG) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in shares of Packaging Co. of America (NYSE:PKG) by 16.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,380 shares of the industrial products company’s stock after purchasing an additional 12,305 shares during the quarter. QRG Capital Management Inc. owned 0.10% of Packaging Co. of America worth $20,122,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp lifted its holdings in 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 valued at $123,440,000 after acquiring an additional 536,389 shares during the period. Conning Inc. acquired a new position in Packaging Co. of America in the fourth quarter valued at approximately $32,329,000. Two Sigma Advisers LP lifted its holdings in 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 valued at $44,739,000 after acquiring an additional 142,400 shares during the period. Mizuho Securities USA LLC lifted its holdings in Packaging Co. of America by 1,800.2% in the third quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock valued at $28,128,000 after acquiring an additional 123,711 shares during the period. Finally, State Street Corp lifted its holdings in Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after acquiring an additional 123,050 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup boosted 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. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company cut their price objective on 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. Finally, Truist Financial restated a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, five 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 a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Up 0.1 %

Shares of PKG opened at $212.86 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.41 and a beta of 0.77. The stock has a 50 day moving average price of $222.82 and a 200 day moving average price of $222.36.

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

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.35%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

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.