Axecap Investments LLC Takes Position in Packaging Co. of America (NYSE:PKG)

Axecap Investments LLC purchased a new stake in shares of Packaging Co. of America (NYSE:PKG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,023 shares of the industrial products company’s stock, valued at approximately $4,098,000. Packaging Co. of America makes up about 3.1% of Axecap Investments LLC’s portfolio, making the stock its 4th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its stake in Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after buying an additional 54 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Packaging Co. of America by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after buying an additional 56 shares in the last quarter. Moors & Cabot Inc. raised its stake in Packaging Co. of America by 2.1% in the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after buying an additional 56 shares in the last quarter. Evergreen Capital Management LLC raised its stake in Packaging Co. of America by 2.4% in the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after buying an additional 57 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Packaging Co. of America by 2.8% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after buying an additional 59 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Packaging Co. of America from $219.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup lifted their price target 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. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.00.

Packaging Co. of America Price Performance

Shares of PKG opened at $228.65 on Thursday. The firm has a market capitalization of $20.54 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 4.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. Packaging Co. of America has a 1-year low of $145.02 and a 1-year high of $231.30. The company’s fifty day moving average price is $210.82 and its 200-day moving average price is $193.70.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 earnings per share. On average, equities research analysts predict that Packaging Co. of America will post 8.73 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.19%. Packaging Co. of America’s dividend payout ratio is presently 62.74%.

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.