Packaging Co. of America (NYSE:PKG) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC lifted its stake in Packaging Co. of America (NYSE:PKG) by 164.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 401,360 shares of the industrial products company’s stock after purchasing an additional 249,483 shares during the quarter. AQR Capital Management LLC owned about 0.45% of Packaging Co. of America worth $73,272,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AXA S.A. increased its position in Packaging Co. of America by 39.6% during the second quarter. AXA S.A. now owns 158,049 shares of the industrial products company’s stock worth $28,853,000 after purchasing an additional 44,819 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Packaging Co. of America by 14,275.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 575 shares of the industrial products company’s stock worth $105,000 after buying an additional 571 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Packaging Co. of America by 70.1% during the 2nd quarter. Squarepoint Ops LLC now owns 96,484 shares of the industrial products company’s stock valued at $17,614,000 after buying an additional 39,773 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Packaging Co. of America by 61.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 17,165 shares of the industrial products company’s stock valued at $3,134,000 after acquiring an additional 6,501 shares during the last quarter. Finally, Distillate Capital Partners LLC purchased a new position in Packaging Co. of America in the second quarter worth approximately $13,829,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PKG shares. Citigroup upped their price target on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Wells Fargo & Company upped their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Bank of America lifted their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Truist Financial upped their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $190.50.

Insider Transactions at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Trading Up 0.4 %

Shares of PKG stock opened at $215.67 on Friday. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $217.69. The company has a 50 day moving average price of $202.87 and a 200 day moving average price of $189.73. The stock has a market capitalization of $19.37 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 4.22 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 earnings per share. Equities research analysts predict that Packaging Co. of America will post 8.72 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s payout ratio is presently 62.50%.

Packaging Co. of America Company 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.