Quadrature Capital Ltd Acquires New Holdings in Packaging Co. of America (NYSE:PKG)

Quadrature Capital Ltd bought a new stake in Packaging Co. of America (NYSE:PKG) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 2,080 shares of the industrial products company’s stock, valued at approximately $339,000.

Several other institutional investors also recently bought and sold shares of PKG. Norges Bank acquired a new position in Packaging Co. of America in the 4th quarter valued at about $163,314,000. Balyasny Asset Management L.P. grew its position in Packaging Co. of America by 175.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock valued at $71,401,000 after acquiring an additional 279,059 shares in the last quarter. Retirement Systems of Alabama grew its position in Packaging Co. of America by 1,133.4% in the 4th quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock valued at $40,850,000 after acquiring an additional 230,422 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Packaging Co. of America by 31.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock valued at $127,659,000 after acquiring an additional 189,401 shares in the last quarter. Finally, Boston Partners grew its position in Packaging Co. of America by 20.1% in the 4th quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock valued at $157,836,000 after acquiring an additional 162,420 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In related news, Director Karen E. Gowland purchased 300 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the purchase, the director now directly owns 916 shares of the company’s stock, valued at $166,766.96. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PKG. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Truist Financial boosted their price objective on Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Bank of America boosted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, Citigroup decreased their target price on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $176.29.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $189.76 on Tuesday. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a twelve month low of $127.69 and a twelve month high of $191.39. The stock has a 50 day moving average of $180.65 and a two-hundred day moving average of $175.92. The stock has a market cap of $17.04 billion, a P/E ratio of 23.72, a P/E/G ratio of 5.02 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts forecast that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.