Quadrature Capital Ltd Acquires Shares of 2,080 Packaging Co. of America (NYSE:PKG)

Quadrature Capital Ltd acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,080 shares of the industrial products company’s stock, valued at approximately $339,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Neo Ivy Capital Management bought a new stake in Packaging Co. of America during the 4th quarter valued at about $28,000. First Horizon Advisors Inc. increased its stake in Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares in the last quarter. Gables Capital Management Inc. bought a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $31,000. Anchor Investment Management LLC bought a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $37,000. Finally, Fortis Group Advisors LLC bought a new stake in shares of Packaging Co. of America in the third quarter worth approximately $46,000. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PKG shares. Citigroup reduced their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $187.00 to $191.00 in a research note on Wednesday, April 24th. Truist Financial lifted their price target on shares of Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Bank of America lifted their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research report on Friday, April 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and an average price target of $176.29.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $189.76 on Tuesday. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 12-month low of $127.69 and a 12-month high of $191.39. The firm has a market capitalization of $17.04 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 5.02 and a beta of 0.78. The firm has a 50 day moving average of $180.65 and a 200 day moving average of $175.92.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts anticipate that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.63%. The ex-dividend date is Friday, June 14th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling at Packaging Co. of America

In related news, Director Karen E. Gowland bought 300 shares of the stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.