Packaging Co. of America (NYSE:PKG) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in Packaging Co. of America (NYSE:PKG – Get Rating) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,105 shares of the industrial products company’s stock after acquiring an additional 94 shares during the period. Thrivent Financial for Lutherans’ holdings in Packaging Co. of America were worth $911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. grew its position in shares of Packaging Co. of America by 14.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 16,312 shares of the industrial products company’s stock worth $2,086,000 after buying an additional 2,057 shares in the last quarter. Van ECK Associates Corp increased its holdings in Packaging Co. of America by 5.4% in the fourth quarter. Van ECK Associates Corp now owns 13,383 shares of the industrial products company’s stock valued at $1,712,000 after buying an additional 687 shares during the last quarter. California Public Employees Retirement System raised its stake in Packaging Co. of America by 2.1% in the fourth quarter. California Public Employees Retirement System now owns 216,415 shares of the industrial products company’s stock valued at $27,682,000 after buying an additional 4,550 shares in the last quarter. River Street Advisors LLC acquired a new stake in Packaging Co. of America in the fourth quarter valued at $559,000. Finally, Heartland Advisors Inc. purchased a new stake in Packaging Co. of America during the 4th quarter worth about $1,191,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $127.93 on Wednesday. The stock has a fifty day moving average price of $135.52 and a 200 day moving average price of $134.63. Packaging Co. of America has a 1-year low of $110.56 and a 1-year high of $162.93. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.12 and a quick ratio of 1.91. The company has a market cap of $11.50 billion, a PE ratio of 12.28, a P/E/G ratio of 3.19 and a beta of 0.87.

Packaging Co. of America (NYSE:PKG – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.07). Packaging Co. of America had a return on equity of 25.59% and a net margin of 11.61%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the firm earned $2.72 earnings per share. The company’s revenue was down 7.5% compared to the same quarter last year. Sell-side analysts forecast that Packaging Co. of America will post 8.12 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.91%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 47.98%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PKG. Truist Financial boosted their target price on 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. VNET Group restated a “maintains” rating on shares of Packaging Co. of America in a report on Wednesday, April 26th. 22nd Century Group reiterated a “maintains” rating on shares of Packaging Co. of America in a research note on Wednesday, April 26th. StockNews.com assumed coverage on shares of Packaging Co. of America in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company cut their target price on Packaging Co. of America from $135.00 to $126.00 in a research report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $127.29.

Packaging Co. of America Profile

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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.