Groupama Asset Managment Invests $640,000 in Packaging Co. of America (NYSE:PKG)

Groupama Asset Managment bought a new stake in Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 2,844 shares of the industrial products company’s stock, valued at approximately $640,000.

A number of other hedge funds have also recently added to or reduced their stakes in PKG. Vanguard Group Inc. raised its position in shares of Packaging Co. of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock worth $2,571,821,000 after acquiring an additional 133,575 shares during the period. State Street Corp raised its holdings in Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after purchasing an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after purchasing an additional 132,836 shares in the last quarter. Geode Capital Management LLC grew its holdings in Packaging Co. of America by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock valued at $531,540,000 after purchasing an additional 29,427 shares during the period. Finally, Boston Partners increased its position in shares of Packaging Co. of America by 7.0% in the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock valued at $352,305,000 after buying an additional 101,755 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 0.8 %

PKG opened at $201.46 on Thursday. The firm has a market capitalization of $18.09 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company’s 50 day simple moving average is $208.05 and its two-hundred day simple moving average is $221.99. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s payout ratio is currently 55.99%.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of research analyst reports. Truist Financial reissued a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday, March 29th. Citigroup lifted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $233.00.

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.