Packaging Co. of America (NYSE:PKG) Stake Increased by Axa S.A.

Axa S.A. raised its stake in shares of Packaging Co. of America (NYSE:PKG) by 5.1% during the fourth quarter, HoldingsChannel reports. The fund owned 172,154 shares of the industrial products company’s stock after acquiring an additional 8,279 shares during the quarter. Axa S.A.’s holdings in Packaging Co. of America were worth $38,757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fortitude Family Office LLC lifted its position in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America during the fourth quarter valued at approximately $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America during the 4th quarter worth approximately $48,000. Rialto Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $63,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $68,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

PKG opened at $187.33 on Friday. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82. The stock has a market cap of $16.85 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. The business’s 50 day moving average is $193.56 and its 200-day moving average is $216.98. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. On average, analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given 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 2.67%. Packaging Co. of America’s dividend payout ratio (DPR) is 52.30%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PKG. Citigroup lifted their price objective 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. Truist Financial decreased their price target 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. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Wells Fargo & Company decreased 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. Finally, 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. Two 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 company’s stock. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.60.

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.