AustralianSuper Pty Ltd Invests $1.46 Million in Packaging Co. of America (NYSE:PKG)

AustralianSuper Pty Ltd purchased a new stake in Packaging Co. of America (NYSE:PKG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,785 shares of the industrial products company’s stock, valued at approximately $1,461,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PKG. US Bancorp DE increased its position in shares of Packaging Co. of America by 0.4% in the third quarter. US Bancorp DE now owns 45,432 shares of the industrial products company’s stock worth $9,786,000 after acquiring an additional 193 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Packaging Co. of America in the 3rd quarter valued at $10,526,000. First Trust Direct Indexing L.P. increased its holdings in Packaging Co. of America by 9.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,943 shares of the industrial products company’s stock valued at $634,000 after purchasing an additional 264 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Packaging Co. of America during the third quarter worth about $356,000. Finally, GHP Investment Advisors Inc. boosted its position in shares of Packaging Co. of America by 1.0% in the third quarter. GHP Investment Advisors Inc. now owns 55,953 shares of the industrial products company’s stock worth $12,052,000 after buying an additional 548 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Up 0.0 %

PKG stock opened at $228.88 on Friday. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm has a 50 day simple moving average of $213.79 and a 200-day simple moving average of $195.09. The company has a market capitalization of $20.56 billion, a P/E ratio of 26.68, a PEG ratio of 3.24 and a beta of 0.77. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $232.98.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the firm earned $2.05 EPS. The company’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts predict that Packaging Co. of America will post 9 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial reiterated a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Wells Fargo & Company boosted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Citigroup boosted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America 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.