Caisse DE Depot ET Placement DU Quebec Has $58.86 Million Position in Packaging Co. of America (NYSE:PKG)

Caisse DE Depot ET Placement DU Quebec lifted its stake in Packaging Co. of America (NYSE:PKG) by 415.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,458 shares of the industrial products company’s stock after purchasing an additional 210,700 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.29% of Packaging Co. of America worth $58,862,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SYM FINANCIAL Corp increased its holdings in shares of Packaging Co. of America by 3.1% in the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 42 shares in the last quarter. Mather Group LLC. grew its holdings in Packaging Co. of America by 1.7% during the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock worth $582,000 after acquiring an additional 43 shares during the period. UMB Bank n.a. grew its holdings in Packaging Co. of America by 3.9% during the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 44 shares during the period. AlphaMark Advisors LLC grew its holdings in Packaging Co. of America by 3.9% during the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 52 shares during the period. Finally, Atomi Financial Group Inc. grew its holdings in Packaging Co. of America by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock worth $370,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG stock opened at $183.27 on Friday. Packaging Co. of America has a 12-month low of $172.72 and a 12-month high of $250.82. The firm has a market capitalization of $16.48 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $194.08 and a 200-day moving average of $217.24.

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, topping analysts’ consensus estimates of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. On average, equities research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.73%. Packaging Co. of America’s payout ratio is presently 52.30%.

Analysts Set New Price Targets

A number of analysts have commented on PKG shares. Truist Financial lowered their target price 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, April 22nd. Citigroup lifted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. 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. Wells Fargo & Company lowered their target price on shares of Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $231.60.

Packaging Co. of America 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.