Magnetar Financial LLC Buys 22,706 Shares of Packaging Co. of America (NYSE:PKG)

Magnetar Financial LLC raised its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 960.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,071 shares of the industrial products company's stock after purchasing an additional 22,706 shares during the quarter. Magnetar Financial LLC's holdings in Packaging Co. of America were worth $5,644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PKG. Fortitude Family Office LLC grew its holdings 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 worth $37,000 after buying an additional 98 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Packaging Co. of America by 234.7% during the 3rd 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. Centricity Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth $44,000. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth $48,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $63,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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Packaging Co. of America Stock Performance

Shares of PKG traded up $6.13 during mid-day trading on Monday, hitting $200.54. The stock had a trading volume of 1,002,769 shares, compared to its average volume of 620,979. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. 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 business has a fifty day moving average price of $213.43 and a 200-day moving average price of $222.45. The firm has a market cap of $18.01 billion, a P/E ratio of 22.46, a PEG ratio of 2.41 and a beta of 0.77.

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

Packaging Co. of America Dividend Announcement

The firm 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 $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.49%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 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.