Packaging Co. of America (NYSE:PKG) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in Packaging Co. of America (NYSE:PKG) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 363,089 shares of the industrial products company’s stock after buying an additional 33,323 shares during the period. Hsbc Holdings PLC owned about 0.40% of Packaging Co. of America worth $81,732,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PKG. Jackson Creek Investment Advisors LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth about $293,000. AlphaQuest LLC grew its stake in Packaging Co. of America by 25.3% in the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after purchasing an additional 1,954 shares in the last quarter. Distillate Capital Partners LLC bought a new stake in Packaging Co. of America in the fourth quarter valued at about $15,828,000. Strategic Financial Concepts LLC acquired a new stake in Packaging Co. of America during the fourth quarter valued at approximately $6,966,000. Finally, Sciencast Management LP bought a new position in Packaging Co. of America during the 4th quarter worth approximately $2,853,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PKG shares. Citigroup boosted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Truist Financial decreased 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 report on Tuesday. Wells Fargo & Company dropped their price objective on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.40.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $184.55 on Thursday. The firm’s 50 day moving average is $197.04 and its two-hundred day moving average is $218.50. The firm has a market capitalization of $16.60 billion, a P/E ratio of 20.67, a PEG ratio of 2.41 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52 week low of $169.79 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.71%. Packaging Co. of America’s payout ratio is 55.99%.

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.