Packaging Co. of America (NYSE:PKG) Shares Bought by M&T Bank Corp

M&T Bank Corp lifted its holdings in Packaging Co. of America (NYSE:PKGGet Rating) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,796 shares of the industrial products company’s stock after acquiring an additional 5,386 shares during the period. M&T Bank Corp owned approximately 0.08% of Packaging Co. of America worth $8,064,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PKG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Packaging Co. of America by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,710 shares of the industrial products company’s stock worth $1,984,000 after acquiring an additional 787 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Packaging Co. of America by 120.3% during the 1st quarter. Raymond James Trust N.A. now owns 3,792 shares of the industrial products company’s stock valued at $592,000 after purchasing an additional 2,071 shares in the last quarter. Cibc World Market Inc. acquired a new stake in Packaging Co. of America during the 1st quarter valued at $693,000. Sei Investments Co. grew its holdings in Packaging Co. of America by 3.0% during the 1st quarter. Sei Investments Co. now owns 162,403 shares of the industrial products company’s stock valued at $25,356,000 after purchasing an additional 4,701 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Packaging Co. of America by 58.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 24,748 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 9,145 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PKG. Wells Fargo & Company raised their price target on shares of Packaging Co. of America from $124.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, January 9th. StockNews.com initiated coverage on shares of Packaging Co. of America in a report on Thursday. They set a “hold” rating for the company. Truist Financial raised their price objective on shares of Packaging Co. of America from $138.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, January 27th. Bank of America lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $146.00 to $139.00 in a report on Thursday, December 15th. Finally, Citigroup raised their price objective on shares of Packaging Co. of America from $123.00 to $130.00 in a report on Wednesday, January 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $131.88.

Packaging Co. of America Trading Down 2.2 %

Shares of NYSE:PKG opened at $128.50 on Thursday. The company has a market cap of $11.53 billion, a PE ratio of 11.67, a P/E/G ratio of 2.90 and a beta of 0.88. The company’s 50-day moving average price is $136.96 and its 200 day moving average price is $130.02. Packaging Co. of America has a fifty-two week low of $110.56 and a fifty-two week high of $168.50. The company has a quick ratio of 1.75, a current ratio of 2.87 and a debt-to-equity ratio of 0.68.

Packaging Co. of America (NYSE:PKGGet Rating) last issued its quarterly earnings data on Thursday, January 26th. The industrial products company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.11. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2.05 billion. Packaging Co. of America had a net margin of 12.12% and a return on equity of 27.00%. Packaging Co. of America’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $2.76 EPS. Sell-side analysts anticipate that Packaging Co. of America will post 9.14 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $1.25 per share. The ex-dividend date is Tuesday, March 14th. This represents a $5.00 annualized dividend and a yield of 3.89%. Packaging Co. of America’s payout ratio is 45.41%.

About Packaging Co. of America

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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.

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

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