Royal London Asset Management Ltd. Raises Position in Packaging Co. of America (NYSE:PKG)

Royal London Asset Management Ltd. boosted its position in Packaging Co. of America (NYSE:PKG - Free Report) by 24.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,673 shares of the industrial products company's stock after buying an additional 5,823 shares during the period. Royal London Asset Management Ltd.'s holdings in Packaging Co. of America were worth $6,680,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PKG. Larson Financial Group LLC lifted its stake in shares of Packaging Co. of America by 234.7% in the third 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 in the last quarter. Fortitude Family Office LLC raised its holdings in shares of Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter worth about $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter valued at about $48,000. Finally, Rialto Wealth Management LLC acquired a new position in Packaging Co. of America during the 4th quarter valued at about $63,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Trading Down 1.2 %

PKG traded down $2.40 on Tuesday, hitting $198.42. 523,026 shares of the company were exchanged, compared to its average volume of 620,896. The firm has a fifty day simple moving average of $213.43 and a two-hundred day simple moving average of $222.45. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The stock has a market capitalization of $17.82 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

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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 (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Sell-side analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PKG shares. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price objective for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Truist Financial reissued a "buy" rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Friday. Finally, Citigroup boosted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $233.00.

Packaging Co. of America Company Profile

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.