Packaging Co. of America (NYSE:PKG) Shares Purchased by National Pension Service

National Pension Service grew its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 25.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 175,794 shares of the industrial products company's stock after buying an additional 36,059 shares during the period. National Pension Service owned 0.20% of Packaging Co. of America worth $37,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PKG. Boston Partners lifted its stake in shares of Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company's stock worth $274,421,000 after purchasing an additional 477,487 shares during the period. Millennium Management LLC increased its stake in shares of Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company's stock valued at $187,596,000 after acquiring an additional 262,315 shares during the last quarter. AQR Capital Management LLC raised its stake in Packaging Co. of America by 164.3% during the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company's stock worth $73,272,000 after purchasing an additional 249,483 shares during the period. International Assets Investment Management LLC boosted its holdings in Packaging Co. of America by 41,151.7% in the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company's stock valued at $33,499,000 after acquiring an additional 155,142 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Packaging Co. of America by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company's stock valued at $210,636,000 after acquiring an additional 86,005 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PKG shares. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Citigroup lifted their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. Finally, Truist Financial restated a "buy" rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Packaging Co. of America currently has an average rating of "Hold" and a consensus price target of $221.60.

Packaging Co. of America Stock Down 0.9 %

Shares of PKG stock traded down $2.11 on Thursday, hitting $239.48. The stock had a trading volume of 569,165 shares, compared to its average volume of 600,695. Packaging Co. of America has a 52-week low of $148.50 and a 52-week high of $245.00. The firm has a market capitalization of $21.51 billion, a price-to-earnings ratio of 28.16, a P/E/G ratio of 3.26 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The stock's 50 day moving average is $216.65 and its 200-day moving average is $196.95.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the firm earned $2.05 earnings per share. The company's revenue was up 14.9% on a year-over-year basis. As a group, research analysts expect that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.09%. Packaging Co. of America's dividend payout ratio is presently 58.28%.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.