321,320 Shares in Packaging Co. of America (NYSE:PKG) Acquired by Select Equity Group L.P.

Select Equity Group L.P. bought a new position in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 321,320 shares of the industrial products company’s stock, valued at approximately $72,339,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PKG. Siemens Fonds Invest GmbH grew its position in Packaging Co. of America by 155.4% in the fourth quarter. Siemens Fonds Invest GmbH now owns 4,566 shares of the industrial products company’s stock valued at $1,028,000 after acquiring an additional 2,778 shares in the last quarter. Shell Asset Management Co. grew its position in Packaging Co. of America by 75.2% in the fourth quarter. Shell Asset Management Co. now owns 3,737 shares of the industrial products company’s stock valued at $841,000 after acquiring an additional 1,604 shares in the last quarter. Rafferty Asset Management LLC grew its position in Packaging Co. of America by 12.5% in the fourth quarter. Rafferty Asset Management LLC now owns 7,744 shares of the industrial products company’s stock valued at $1,743,000 after acquiring an additional 863 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Packaging Co. of America in the fourth quarter valued at approximately $630,000. Finally, Point72 Asset Management L.P. grew its position in Packaging Co. of America by 642.7% in the fourth quarter. Point72 Asset Management L.P. now owns 271,806 shares of the industrial products company’s stock valued at $61,192,000 after acquiring an additional 235,211 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the subject of several recent research reports. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Wells Fargo & Company reiterated an “equal weight” rating and set a $180.00 target price (down from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Finally, Truist Financial reduced their target price 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. Three equities research 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $226.60.

Packaging Co. of America Stock Performance

Shares of PKG opened at $194.33 on Friday. The business’s fifty day moving average price is $189.59 and its 200 day moving average price is $214.45. Packaging Co. of America has a 12-month low of $172.72 and a 12-month high of $250.82. The stock has a market capitalization of $17.49 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. 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 posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Friday, June 13th. Packaging Co. of America’s dividend payout ratio (DPR) is 52.30%.

Packaging Co. of America Company 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.