Magnetar Financial LLC Has $5.64 Million Holdings in Packaging Co. of America (NYSE:PKG)

Magnetar Financial LLC raised its holdings in shares of Packaging Co. of America (NYSE:PKG) by 960.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,071 shares of the industrial products company’s stock after buying an additional 22,706 shares during the quarter. Magnetar Financial LLC’s holdings in Packaging Co. of America were worth $5,644,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter worth approximately $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at $48,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at $63,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $198.34 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock has a fifty day moving average price of $215.31 and a two-hundred day moving average price of $222.52. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82. The firm has a market capitalization of $17.81 billion, a P/E ratio of 22.21, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data 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, analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s payout ratio is presently 55.99%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PKG. Citigroup upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company cut their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Truist Financial restated a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.00.

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.