Intact Investment Management Inc. Buys Shares of 300 Packaging Co. of America (NYSE:PKG)

Intact Investment Management Inc. bought a new stake in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 300 shares of the industrial products company’s stock, valued at approximately $68,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PKG. LBP AM SA increased its stake in shares of Packaging Co. of America by 16.2% in the fourth quarter. LBP AM SA now owns 36,584 shares of the industrial products company’s stock worth $8,236,000 after purchasing an additional 5,104 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Packaging Co. of America by 7.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 62,437 shares of the industrial products company’s stock worth $14,057,000 after purchasing an additional 4,497 shares in the last quarter. PGGM Investments increased its stake in shares of Packaging Co. of America by 8.9% in the fourth quarter. PGGM Investments now owns 10,663 shares of the industrial products company’s stock worth $2,401,000 after purchasing an additional 871 shares in the last quarter. Erste Asset Management GmbH increased its stake in shares of Packaging Co. of America by 19.8% in the fourth quarter. Erste Asset Management GmbH now owns 36,060 shares of the industrial products company’s stock worth $8,189,000 after purchasing an additional 5,960 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its stake in shares of Packaging Co. of America by 19.3% in the fourth quarter. Achmea Investment Management B.V. now owns 26,139 shares of the industrial products company’s stock worth $5,885,000 after purchasing an additional 4,237 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PKG. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Truist Financial restated a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, Citigroup upped their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Price Performance

PKG stock opened at $196.68 on Friday. 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 company has a fifty day simple moving average of $217.04 and a two-hundred day simple moving average of $222.71. The firm has a market capitalization of $17.66 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate 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%. Analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.54%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Packaging Co. of America 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.