Packaging Co. of America (NYSE:PKG) Shares Bought by DnB Asset Management AS

DnB Asset Management AS lifted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 6.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,530 shares of the industrial products company’s stock after purchasing an additional 1,072 shares during the quarter. DnB Asset Management AS’s holdings in Packaging Co. of America were worth $3,947,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Packaging Co. of America in the fourth quarter worth $258,928,000. Stifel Financial Corp grew its stake in Packaging Co. of America by 1,462.2% during the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after purchasing an additional 536,389 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Packaging Co. of America during the 4th quarter worth about $50,175,000. Conning Inc. acquired a new stake in Packaging Co. of America in the 4th quarter valued at about $32,329,000. Finally, Two Sigma Advisers LP boosted its stake in shares of Packaging Co. of America by 218.1% in the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after buying an additional 142,400 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PKG. Citigroup raised their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $197.94 on Tuesday. The stock has a market capitalization of $17.77 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average price is $209.67 and its 200 day moving average price is $222.21. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (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%. As a group, equities research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.53%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Packaging Co. of America Company Profile

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.