Axecap Investments LLC Makes New $4.10 Million Investment in Packaging Co. of America (NYSE:PKG)

Axecap Investments LLC bought a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,023 shares of the industrial products company's stock, valued at approximately $4,098,000. Packaging Co. of America accounts for 3.1% of Axecap Investments LLC's investment portfolio, making the stock its 4th largest position.

A number of other institutional investors also recently modified their holdings of PKG. Register Financial Advisors LLC purchased a new stake in shares of Packaging Co. of America during the first quarter worth about $25,000. Asset Dedication LLC lifted its holdings in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock worth $31,000 after buying an additional 112 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Packaging Co. of America in the third quarter worth about $32,000. Tortoise Investment Management LLC purchased a new stake in Packaging Co. of America in the second quarter worth about $33,000. Finally, Headlands Technologies LLC purchased a new stake in Packaging Co. of America in the first quarter worth about $43,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on PKG shares. Citigroup raised their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Truist Financial restated a "buy" rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $221.60.

Packaging Co. of America Stock Down 0.5 %

Shares of PKG traded down $1.14 on Thursday, hitting $227.51. 746,601 shares of the stock traded hands, compared to its average volume of 599,547. The company has a market capitalization of $20.43 billion, a PE ratio of 28.55, a P/E/G ratio of 4.33 and a beta of 0.77. 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 business has a 50 day simple moving average of $210.82 and a 200 day simple moving average of $193.70. Packaging Co. of America has a one year low of $147.25 and a one year high of $231.30.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly 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. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. As a group, equities analysts forecast that Packaging Co. of America will post 8.73 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Monday, September 16th. Packaging Co. of America's dividend payout ratio (DPR) is currently 62.74%.

Packaging Co. of America Profile

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.