Invesco Ltd. Grows Position in Packaging Co. of America (NYSE:PKG)

Invesco Ltd. grew its holdings in Packaging Co. of America (NYSE:PKG) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,853,092 shares of the industrial products company’s stock after purchasing an additional 14,775 shares during the quarter. Invesco Ltd.’s holdings in Packaging Co. of America were worth $417,187,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in Packaging Co. of America during the 3rd quarter valued at $312,000. IHT Wealth Management LLC bought a new position in Packaging Co. of America in the third quarter worth about $268,000. Wellington Management Group LLP lifted its position in shares of Packaging Co. of America by 30.0% during the third quarter. Wellington Management Group LLP now owns 12,070 shares of the industrial products company’s stock valued at $2,600,000 after buying an additional 2,786 shares during the last quarter. National Bank of Canada FI grew its position in shares of Packaging Co. of America by 205.8% in the 3rd quarter. National Bank of Canada FI now owns 81,370 shares of the industrial products company’s stock worth $17,527,000 after buying an additional 54,765 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Packaging Co. of America by 16.8% during the 3rd quarter. MML Investors Services LLC now owns 17,086 shares of the industrial products company’s stock worth $3,680,000 after acquiring an additional 2,461 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

NYSE:PKG opened at $175.63 on Wednesday. The firm’s fifty day moving average is $202.67 and its two-hundred day moving average is $220.84. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.41 and a beta of 0.84. 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 one year low of $169.00 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Research analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Wall Street Analyst Weigh In

PKG has been the topic of several research analyst reports. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday. Truist Financial restated a “buy” rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Citigroup boosted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and an average target price of $228.50.

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.