2,467 Shares in Packaging Co. of America (NYSE:PKG) Bought by Allstate Corp

Allstate Corp acquired a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,467 shares of the industrial products company's stock, valued at approximately $555,000.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $258,928,000. Stifel Financial Corp boosted its position in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock worth $123,440,000 after buying an additional 536,389 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at $50,175,000. Conning Inc. purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at $32,329,000. Finally, Two Sigma Advisers LP boosted its holdings in Packaging Co. of America by 218.1% during 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 acquiring an additional 142,400 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PKG shares. Wells Fargo & Company reduced their price target 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. Citigroup raised their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Saturday, March 29th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Finally, Truist Financial restated a "buy" rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $233.00.

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Packaging Co. of America Stock Down 6.1 %

Packaging Co. of America stock traded down $12.24 during midday trading on Thursday, reaching $189.13. The company's stock had a trading volume of 1,537,148 shares, compared to its average volume of 678,871. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The company has a market cap of $17.01 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.41 and a beta of 0.84. The business has a 50-day simple moving average of $207.05 and a 200-day simple moving average of $221.76.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced 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 net margin of 9.60% and a return on equity of 19.67%. On average, research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

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 $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.64%. Packaging Co. of America's payout ratio is 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.