Packaging Co. of America (NYSE:PKG) Shares Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP raised its position in Packaging Co. of America (NYSE:PKG) by 151.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,741 shares of the industrial products company’s stock after buying an additional 39,028 shares during the period. ExodusPoint Capital Management LP’s holdings in Packaging Co. of America were worth $14,575,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PKG. Fortitude Family Office LLC boosted its position in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $44,000. Golden State Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $48,000. Rialto Wealth Management LLC purchased a new position in Packaging Co. of America during the fourth quarter worth approximately $63,000. Finally, Intact Investment Management Inc. acquired a new position in Packaging Co. of America during the fourth quarter worth $68,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Performance

NYSE PKG opened at $189.13 on Friday. The company has a market cap of $17.01 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.41 and a beta of 0.84. 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. The stock has a 50-day moving average of $207.05 and a two-hundred day moving average of $221.76.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) 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%. As a group, analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.64%. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PKG shares. Truist Financial reissued a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup increased their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday, March 29th. Wells Fargo & Company reduced their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Profile

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.