Packaging Co. of America (NYSE:PKG) Shares Bought by Toroso Investments LLC

Toroso Investments LLC boosted its position in shares of Packaging Co. of America (NYSE:PKG – Get Rating) by 36.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,467 shares of the industrial products company’s stock after acquiring an additional 4,412 shares during the period. Toroso Investments LLC’s holdings in Packaging Co. of America were worth $1,849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Packaging Co. of America in the 3rd quarter valued at $930,000. National Pension Service boosted its holdings in shares of Packaging Co. of America by 8.4% in the 3rd quarter. National Pension Service now owns 150,596 shares of the industrial products company’s stock valued at $17,201,000 after buying an additional 11,635 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Packaging Co. of America by 8.1% in the 3rd quarter. M&T Bank Corp now owns 71,796 shares of the industrial products company’s stock valued at $8,064,000 after buying an additional 5,386 shares in the last quarter. Cape Cod Five Cents Savings Bank boosted its holdings in shares of Packaging Co. of America by 2.3% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 19,254 shares of the industrial products company’s stock valued at $2,162,000 after buying an additional 428 shares in the last quarter. Finally, VisionPoint Advisory Group LLC boosted its holdings in shares of Packaging Co. of America by 11.5% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 4,786 shares of the industrial products company’s stock valued at $537,000 after buying an additional 493 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Packaging Co. of America Stock Up 0.5 %

Shares of Packaging Co. of America stock opened at $129.17 on Friday. The company has a market cap of $11.59 billion, a P/E ratio of 11.73, a PEG ratio of 2.87 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.75 and a current ratio of 2.87. Packaging Co. of America has a one year low of $110.56 and a one year high of $168.50. The firm has a fifty day moving average of $136.91 and a two-hundred day moving average of $130.01.

Packaging Co. of America (NYSE:PKG – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The industrial products company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.11. The company had revenue of $1.98 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.76 EPS. On average, analysts forecast that Packaging Co. of America will post 9.14 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 15th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.87%. Packaging Co. of America’s dividend payout ratio is presently 45.41%.

Analysts Set New Price Targets

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

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.