BI Asset Management Fondsmaeglerselskab A S Takes Position in Packaging Co. of America (NYSE:PKG)

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,452 shares of the industrial products company's stock, valued at approximately $1,227,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Forum Financial Management LP grew its position in shares of Packaging Co. of America by 65.2% in the fourth quarter. Forum Financial Management LP now owns 1,786 shares of the industrial products company's stock valued at $402,000 after purchasing an additional 705 shares during the last quarter. Adams Wealth Management boosted its position in shares of Packaging Co. of America by 3.4% in the fourth quarter. Adams Wealth Management now owns 4,325 shares of the industrial products company's stock valued at $973,000 after acquiring an additional 143 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Packaging Co. of America by 4.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 108,025 shares of the industrial products company's stock valued at $24,301,000 after acquiring an additional 4,691 shares in the last quarter. First Commonwealth Financial Corp PA acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at about $200,000. Finally, Zacks Investment Management bought a new position in Packaging Co. of America during the fourth quarter worth about $3,831,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PKG shares. Truist Financial decreased their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research report on Tuesday. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Citigroup lifted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Wells Fargo & Company reduced their target price on Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.40.

Packaging Co. of America Trading Up 2.3 %

Shares of PKG stock opened at $186.29 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. 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 $16.75 billion, a PE ratio of 20.86, a P/E/G ratio of 2.41 and a beta of 0.84. The stock's fifty day moving average price is $197.60 and its two-hundred day moving average price is $218.74.

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

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.68%. Packaging Co. of America's dividend payout ratio is currently 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.

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