QRG Capital Management Inc. Has $20.12 Million Stock Position in Packaging Co. of America (NYSE:PKG)

QRG Capital Management Inc. increased its position in Packaging Co. of America (NYSE:PKG - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,380 shares of the industrial products company's stock after buying an additional 12,305 shares during the period. QRG Capital Management Inc. owned about 0.10% of Packaging Co. of America worth $20,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PKG. Larson Financial Group LLC grew its stake in shares of 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 valued at $35,000 after buying an additional 115 shares during the period. Fortitude Family Office LLC boosted its holdings in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Packaging Co. of America during the fourth quarter valued at about $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the fourth quarter worth about $48,000. Finally, Assetmark Inc. raised its holdings in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 89.78% of the company's stock.

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Insider Buying and Selling

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company's stock, valued at $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Stock Performance

NYSE:PKG traded down $3.70 during trading hours on Monday, reaching $209.39. 773,040 shares of the stock were exchanged, compared to its average volume of 910,377. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $18.80 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.41 and a beta of 0.77. The firm has a 50 day simple moving average of $222.19 and a 200-day simple moving average of $222.81.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, sell-side analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.39%. Packaging Co. of America's payout ratio is currently 55.99%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PKG shares. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup raised their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. 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. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $233.00.

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.