DoubleLine ETF Adviser LP Acquires Shares of 10,031 Packaging Co. of America (NYSE:PKG)

DoubleLine ETF Adviser LP bought a new position in Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,031 shares of the industrial products company’s stock, valued at approximately $2,258,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in 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 buying an additional 133,575 shares during the last quarter. 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 valued at $691,138,000 after purchasing an additional 132,836 shares in the last quarter. Geode Capital Management LLC boosted its stake in Packaging Co. of America by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock worth $531,540,000 after purchasing an additional 29,427 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Packaging Co. of America by 0.8% during the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock worth $417,187,000 after purchasing an additional 14,775 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Packaging Co. of America by 7.0% in 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 in the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $183.27 on Friday. The stock has a 50-day moving average of $194.08 and a 200-day moving average of $217.24. Packaging Co. of America has a one year low of $172.72 and a one year high of $250.82. The stock has a market cap of $16.48 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. As a group, 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 was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 52.30%.

Analysts Set New Price Targets

PKG has been the subject of several research reports. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Citigroup lifted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company decreased their price target on Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Truist Financial lowered their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.60.

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.