CANADA LIFE ASSURANCE Co Boosts Stock Holdings in Packaging Co. of America (NYSE:PKG)

CANADA LIFE ASSURANCE Co lifted its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,025 shares of the industrial products company's stock after acquiring an additional 4,691 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.12% of Packaging Co. of America worth $24,301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Passumpsic Savings Bank acquired a new stake in Packaging Co. of America during the 3rd quarter worth approximately $212,000. Aldebaran Financial Inc. bought a new stake in shares of Packaging Co. of America in the third quarter worth $215,000. Wilmington Savings Fund Society FSB acquired a new stake in Packaging Co. of America in the third quarter valued at $836,000. Franklin Resources Inc. increased its holdings in Packaging Co. of America by 4.3% in the third quarter. Franklin Resources Inc. now owns 130,628 shares of the industrial products company's stock valued at $28,736,000 after purchasing an additional 5,339 shares during the period. Finally, Principal Financial Group Inc. raised its position in Packaging Co. of America by 8.4% during the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company's stock worth $99,194,000 after purchasing an additional 35,614 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Up 2.4 %

Shares of PKG stock traded up $4.46 on Thursday, reaching $189.15. 1,087,977 shares of the company were exchanged, compared to its average volume of 697,673. 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 company has a 50-day moving average of $197.04 and a 200-day moving average of $218.50. The company has a market cap of $17.01 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a one year low of $169.79 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating 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. Analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price objective on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a research report on Thursday. Truist Financial decreased their price objective on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research report on Tuesday. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. 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, Citigroup lifted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $231.60.

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.