QRG Capital Management Inc. Purchases 7,117 Shares of Packaging Co. of America (NYSE:PKG)

QRG Capital Management Inc. lifted its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 10.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,075 shares of the industrial products company's stock after buying an additional 7,117 shares during the quarter. QRG Capital Management Inc. owned about 0.09% of Packaging Co. of America worth $16,602,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of Packaging Co. of America by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company's stock valued at $520,920,000 after buying an additional 41,903 shares in the last quarter. Boston Partners boosted its holdings in Packaging Co. of America by 49.3% in the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company's stock valued at $274,421,000 after acquiring an additional 477,487 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 worth $210,636,000 after buying an additional 86,005 shares during the period. Millennium Management LLC raised its position in shares of Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company's stock worth $187,596,000 after acquiring an additional 262,315 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Packaging Co. of America by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company's stock valued at $164,985,000 after purchasing an additional 42,465 shares during the period. Institutional investors own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

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

Packaging Co. of America Stock Performance

Shares of NYSE PKG traded up $2.48 during mid-day trading on Tuesday, hitting $232.65. The company had a trading volume of 465,477 shares, compared to its average volume of 600,068. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 1 year low of $148.50 and a 1 year high of $232.98. The company has a market capitalization of $20.89 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 3.25 and a beta of 0.76. The stock's 50-day moving average price is $215.37 and its 200-day moving average price is $196.27.

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

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America's dividend payout ratio (DPR) is currently 58.28%.

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.