State of Alaska Department of Revenue Has $3.61 Million Position in Packaging Co. of America (NYSE:PKG)

State of Alaska Department of Revenue reduced its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 28.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,746 shares of the industrial products company's stock after selling 6,615 shares during the quarter. State of Alaska Department of Revenue's holdings in Packaging Co. of America were worth $3,606,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its position in shares of Packaging Co. of America by 1.4% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company's stock worth $704,000 after purchasing an additional 54 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Packaging Co. of America by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company's stock worth $1,773,000 after acquiring an additional 56 shares during the last quarter. Moors & Cabot Inc. increased its position in Packaging Co. of America by 2.1% during the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company's stock worth $491,000 after acquiring an additional 56 shares during the period. Evergreen Capital Management LLC boosted its holdings in Packaging Co. of America by 2.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company's stock valued at $452,000 after purchasing an additional 57 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Packaging Co. of America by 2.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company's stock worth $410,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Analysts Set New Price Targets

PKG has been the subject of several recent research reports. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Truist Financial reissued a "buy" rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Finally, Citigroup increased 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $221.60.

Packaging Co. of America Stock Up 0.0 %

Shares of PKG traded up $0.08 during mid-day trading on Thursday, hitting $228.88. 654,309 shares of the company's stock were exchanged, compared to its average volume of 599,383. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $232.98. The company has a market cap of $20.56 billion, a PE ratio of 28.62, a P/E/G ratio of 3.20 and a beta of 0.77. The company has a 50-day simple moving average of $213.79 and a 200 day simple moving average of $195.09.

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

Packaging Co. of America Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.18%. Packaging Co. of America's dividend payout ratio (DPR) is presently 62.50%.

Packaging Co. of America Company 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.