Quantinno Capital Management LP Has $9.84 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Quantinno Capital Management LP lifted its stake in Packaging Co. of America (NYSE:PKG) by 63.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,699 shares of the industrial products company’s stock after purchasing an additional 16,912 shares during the quarter. Quantinno Capital Management LP’s holdings in Packaging Co. of America were worth $9,838,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PKG shares. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Truist Financial cut their price target on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.60.

Packaging Co. of America Stock Up 1.6%

Shares of PKG stock opened at $191.82 on Thursday. The stock’s 50 day simple moving average is $189.82 and its 200 day simple moving average is $214.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82. The company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. As a group, research analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, June 13th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 52.30%.

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.