Fractal Investments LLC Purchases New Stake in Packaging Co. of America (NYSE:PKG)

Fractal Investments LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKGFree Report) in the 3rd quarter, HoldingsChannel reports. The fund acquired 1,800 shares of the industrial products company’s stock, valued at approximately $388,000.

Several other large investors also recently made changes to their positions in the business. Central Pacific Bank Trust Division acquired a new position in shares of Packaging Co. of America during the 3rd quarter valued at $32,000. Asset Dedication LLC raised its position in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the period. Tortoise Investment Management LLC acquired a new position in shares of Packaging Co. of America during the second quarter worth about $33,000. Headlands Technologies LLC purchased a new stake in shares of Packaging Co. of America in the first quarter worth about $43,000. Finally, Allworth Financial LP grew its stake in shares of Packaging Co. of America by 65.1% in the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock valued at $67,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 1.1 %

NYSE PKG opened at $232.65 on Wednesday. The company has a market capitalization of $20.89 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 3.25 and a beta of 0.76. Packaging Co. of America has a 12 month low of $148.50 and a 12 month high of $232.98. The company’s fifty day moving average price is $215.37 and its two-hundred day moving average price is $196.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the business posted $2.05 EPS. Packaging Co. of America’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, research analysts predict that Packaging Co. of America will post 9 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.15%. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Truist Financial restated a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $221.60.

Get Our Latest Analysis on Packaging Co. of America

Packaging Co. of America Company Profile

(Free Report)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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