Trustmark National Bank Trust Department Raises Stake in Packaging Co. of America (NYSE:PKG)

Trustmark National Bank Trust Department increased its stake in Packaging Co. of America (NYSE:PKG) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,378 shares of the industrial products company’s stock after buying an additional 90 shares during the period. Trustmark National Bank Trust Department’s holdings in Packaging Co. of America were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Packaging Co. of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock worth $2,571,821,000 after acquiring an additional 133,575 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Packaging Co. of America by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after purchasing an additional 132,836 shares during the period. Geode Capital Management LLC raised its position in Packaging Co. of America by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock valued at $531,540,000 after purchasing an additional 29,427 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Packaging Co. of America by 0.8% in the 4th quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock worth $417,187,000 after buying an additional 14,775 shares during the period. Finally, Boston Partners increased its stake in shares of Packaging Co. of America by 7.0% during the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock valued at $352,305,000 after buying an additional 101,755 shares during the period. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG opened at $190.39 on Tuesday. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The stock has a fifty day moving average price of $200.38 and a 200-day moving average price of $219.93. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a market cap of $17.12 billion, a PE ratio of 21.32, a P/E/G ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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%. Equities research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 2.63%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Wall Street Analyst Weigh In

PKG has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Truist Financial reissued a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Citigroup boosted their price target on 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 analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus target price of $237.80.

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.