Meiji Yasuda Life Insurance Co Purchases Shares of 1,330 Packaging Co. of America (NYSE:PKG)

Meiji Yasuda Life Insurance Co acquired a new position in shares of Packaging Co. of America (NYSE:PKG) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,330 shares of the industrial products company’s stock, valued at approximately $299,000.

A number of other large investors have also made changes to their positions in PKG. Wilmington Savings Fund Society FSB bought a new stake in shares of Packaging Co. of America during the third quarter valued at approximately $836,000. Franklin Resources Inc. lifted its holdings in shares of Packaging Co. of America by 4.3% during the 3rd quarter. Franklin Resources Inc. now owns 130,628 shares of the industrial products company’s stock worth $28,736,000 after acquiring an additional 5,339 shares during the period. Principal Financial Group Inc. increased its stake in Packaging Co. of America by 8.4% in the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock valued at $99,194,000 after acquiring an additional 35,614 shares during the period. Versant Capital Management Inc raised its position in Packaging Co. of America by 121.7% in the fourth quarter. Versant Capital Management Inc now owns 317 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 174 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Packaging Co. of America by 24.2% during the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after purchasing an additional 473 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PKG. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Truist Financial cut 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 research note on Tuesday, April 22nd. Citigroup raised 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. Finally, Wells Fargo & Company lowered their target price on Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Two 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.60.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $187.33 on Friday. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 12-month low of $172.72 and a 12-month high of $250.82. 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 business’s 50-day simple moving average is $193.56 and its 200 day simple moving average is $217.01.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data 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 net margin of 9.60% and a return on equity of 19.67%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. As a group, research 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 issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 52.30%.

Packaging Co. of America Company 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.