UniSuper Management Pty Ltd Boosts Stock Position in Packaging Co. of America (NYSE:PKG)

UniSuper Management Pty Ltd lifted its stake in Packaging Co. of America (NYSE:PKG) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,462 shares of the industrial products company’s stock after acquiring an additional 1,360 shares during the period. UniSuper Management Pty Ltd’s holdings in Packaging Co. of America were worth $2,355,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Packaging Co. of America by 11.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 141,683 shares of the industrial products company’s stock worth $32,003,000 after purchasing an additional 14,253 shares in the last quarter. Korea Investment CORP grew its holdings in Packaging Co. of America by 96.0% during the 4th quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company’s stock valued at $15,985,000 after buying an additional 34,784 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Packaging Co. of America by 23.6% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 94,194 shares of the industrial products company’s stock worth $21,206,000 after buying an additional 17,980 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Packaging Co. of America by 1.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,771 shares of the industrial products company’s stock valued at $849,000 after acquiring an additional 70 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Packaging Co. of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock valued at $2,571,821,000 after acquiring an additional 133,575 shares during the period. 89.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PKG. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Citigroup raised 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. Truist Financial reiterated a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $195.40 on Friday. The business’s 50-day moving average price is $210.46 and its 200-day moving average price is $222.16. The firm has a market capitalization of $17.55 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last posted 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%. Sell-side analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.56%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

About Packaging Co. of America

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.