KLP Kapitalforvaltning AS Buys Shares of 41,330 Packaging Co. of America (NYSE:PKG)

KLP Kapitalforvaltning AS bought a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 41,330 shares of the industrial products company's stock, valued at approximately $9,349,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC grew its position in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Packaging Co. of America by 150.8% during 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 in the last quarter. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth about $44,000. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter valued at about $48,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $63,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PKG has been the subject of a number of research reports. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Friday. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Truist Financial reiterated a "buy" rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Packaging Co. of America currently has an average rating of "Moderate Buy" and a consensus target price of $233.00.

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Packaging Co. of America Stock Down 1.1 %

NYSE PKG traded down $2.19 on Tuesday, reaching $198.62. The stock had a trading volume of 999,426 shares, compared to its average volume of 621,338. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The business has a 50 day moving average price of $212.76 and a 200 day moving average price of $222.43. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $17.84 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's dividend payout ratio is currently 55.99%.

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.