Cartenna Capital LP Purchases 151,007 Shares of Packaging Co. of America (NYSE:PKG)

Cartenna Capital LP boosted its position in Packaging Co. of America (NYSE:PKG - Free Report) by 159.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,007 shares of the industrial products company's stock after purchasing an additional 151,007 shares during the period. Packaging Co. of America makes up approximately 2.7% of Cartenna Capital LP's investment portfolio, making the stock its 13th biggest holding. Cartenna Capital LP owned approximately 0.27% of Packaging Co. of America worth $55,384,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Jackson Creek Investment Advisors LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $293,000. AlphaQuest LLC increased its stake in Packaging Co. of America by 25.3% in the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock worth $2,180,000 after purchasing an additional 1,954 shares during the period. Distillate Capital Partners LLC bought a new stake in shares of Packaging Co. of America during the fourth quarter worth $15,828,000. Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America during the fourth quarter valued at $6,966,000. Finally, Sciencast Management LP bought a new position in shares of Packaging Co. of America in the fourth quarter worth about $2,853,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Trading Down 1.0 %

PKG opened at $184.55 on Thursday. Packaging Co. of America has a 12 month low of $169.79 and a 12 month high of $250.82. The stock has a fifty day moving average price of $197.04 and a 200-day moving average price of $218.50. The firm has a market cap of $16.60 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.41 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

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

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a $1.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.71%. Packaging Co. of America's dividend payout ratio (DPR) is 55.99%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PKG shares. Truist Financial lowered 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. Wells Fargo & Company lowered their price target on Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup raised their price objective 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. 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, StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $232.40.

About Packaging Co. of America

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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