Adage Capital Partners GP L.L.C. Purchases 54,060 Shares of Packaging Co. of America (NYSE:PKG)

Adage Capital Partners GP L.L.C. grew its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 91.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,300 shares of the industrial products company's stock after purchasing an additional 54,060 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.13% of Packaging Co. of America worth $25,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PKG. Fortitude Family Office LLC lifted its stake in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after buying an additional 98 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter valued at $48,000. Rialto Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter worth $63,000. Finally, Intact Investment Management Inc. acquired a new stake in Packaging Co. of America in the fourth quarter worth $68,000. Institutional investors own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Wells Fargo & Company dropped their price target on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Truist Financial reduced their price objective on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Finally, Citigroup upped their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $231.60.

Packaging Co. of America Stock Performance

PKG stock traded down $0.26 during mid-day trading on Tuesday, hitting $186.13. The company had a trading volume of 719,912 shares, compared to its average volume of 699,089. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a market cap of $16.74 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The stock's fifty day moving average price is $195.52 and its two-hundred day moving average price is $217.93. Packaging Co. of America has a 12 month low of $172.37 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.10. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 52.30%.

Packaging Co. of America 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.