15,604 Shares in Packaging Co. of America (NYSE:PKG) Purchased by Teza Capital Management LLC

Teza Capital Management LLC acquired a new position in Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,604 shares of the industrial products company’s stock, valued at approximately $3,513,000.

Several other hedge funds have also recently bought and sold shares of the business. Toronto Dominion Bank lifted its stake in Packaging Co. of America by 8.3% in the 4th quarter. Toronto Dominion Bank now owns 47,789 shares of the industrial products company’s stock worth $10,759,000 after acquiring an additional 3,667 shares in the last quarter. Select Equity Group L.P. purchased a new stake in Packaging Co. of America in the 4th quarter worth about $72,339,000. Siemens Fonds Invest GmbH lifted its stake in Packaging Co. of America by 155.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,566 shares of the industrial products company’s stock worth $1,028,000 after acquiring an additional 2,778 shares in the last quarter. Shell Asset Management Co. lifted its stake in Packaging Co. of America by 75.2% in the 4th quarter. Shell Asset Management Co. now owns 3,737 shares of the industrial products company’s stock worth $841,000 after acquiring an additional 1,604 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in Packaging Co. of America by 12.5% in the 4th quarter. Rafferty Asset Management LLC now owns 7,744 shares of the industrial products company’s stock worth $1,743,000 after acquiring an additional 863 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of recent research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Truist Financial cut their price target on 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. Finally, Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.60.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $194.33 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a market cap of $17.49 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 2.41 and a beta of 0.85. The business’s 50-day simple moving average is $189.59 and its 200-day simple moving average is $214.35. Packaging Co. of America has a 52 week low of $172.72 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, equities research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 52.30%.

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.