3,459 Shares in Packaging Co. of America (NYSE:PKG) Bought by Virtu Financial LLC

Virtu Financial LLC bought a new position in Packaging Co. of America (NYSE:PKG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,459 shares of the industrial products company's stock, valued at approximately $779,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PKG. Stifel Financial Corp raised its holdings in shares of Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock worth $123,440,000 after purchasing an additional 536,389 shares during the period. Raymond James Financial Inc. acquired a new stake in Packaging Co. of America during the 4th quarter worth approximately $50,175,000. Conning Inc. purchased a new position in Packaging Co. of America in the fourth quarter valued at approximately $32,329,000. Two Sigma Advisers LP raised its holdings in Packaging Co. of America by 218.1% in the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company's stock valued at $44,739,000 after buying an additional 142,400 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock valued at $691,138,000 after buying an additional 132,836 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Co. of America Stock Down 0.5 %

PKG stock traded down $1.06 during midday trading on Thursday, hitting $198.44. 505,913 shares of the company's stock were exchanged, compared to its average volume of 623,724. The firm has a 50 day moving average price of $211.30 and a 200-day moving average price of $222.10. 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 price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

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Packaging Co. of America (NYSE:PKG - Get Free Report) last issued 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 return on equity of 19.67% and a net margin of 9.60%. On average, analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PKG. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Truist Financial reiterated a "buy" rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Citigroup upped their price target on 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 analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.