Packaging Co. of America (NYSE:PKG) Shares Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its position in shares of Packaging Co. of America (NYSE:PKGGet Rating) by 2.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 26,944 shares of the industrial products company’s stock after buying an additional 658 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Packaging Co. of America were worth $3,705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PKG. Clear Street Markets LLC lifted its holdings in Packaging Co. of America by 397.4% during the 2nd quarter. Clear Street Markets LLC now owns 194 shares of the industrial products company’s stock worth $27,000 after buying an additional 155 shares during the last quarter. Bogart Wealth LLC lifted its holdings in Packaging Co. of America by 455.6% during the 2nd quarter. Bogart Wealth LLC now owns 200 shares of the industrial products company’s stock worth $28,000 after buying an additional 164 shares during the last quarter. Quent Capital LLC bought a new position in Packaging Co. of America during the 1st quarter worth approximately $29,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Packaging Co. of America in the 1st quarter worth approximately $31,000. Finally, MCF Advisors LLC bought a new stake in shares of Packaging Co. of America in the 1st quarter worth approximately $47,000. Institutional investors own 89.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PKG shares. Bank of America cut their price target on Packaging Co. of America from $155.00 to $134.00 in a report on Thursday, October 13th. Truist Financial cut their price target on Packaging Co. of America from $175.00 to $152.00 and set a “buy” rating on the stock in a report on Thursday, September 29th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, October 29th. Wells Fargo & Company cut their price target on Packaging Co. of America from $143.00 to $124.00 and set an “equal weight” rating on the stock in a report on Thursday, October 6th. Finally, Jefferies Financial Group downgraded Packaging Co. of America from a “hold” rating to an “underperform” rating and cut their target price for the company from $130.00 to $112.00 in a research note on Friday, September 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Hold” and a consensus price target of $133.89.

Packaging Co. of America Stock Down 0.3 %

Shares of Packaging Co. of America stock opened at $129.04 on Monday. Packaging Co. of America has a 1-year low of $110.56 and a 1-year high of $168.50. The company has a market capitalization of $11.94 billion, a P/E ratio of 11.75, a PEG ratio of 2.34 and a beta of 0.84. The business’s fifty day moving average price is $120.24 and its two-hundred day moving average price is $136.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.02 and a quick ratio of 1.99.

Packaging Co. of America (NYSE:PKGGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.02. Packaging Co. of America had a return on equity of 28.32% and a net margin of 12.09%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the firm earned $2.69 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts forecast that Packaging Co. of America will post 11.02 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Monday, October 3rd were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.87%. The ex-dividend date was Friday, September 30th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 45.54%.

Packaging Co. of America Profile

(Get Rating)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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