DnB Asset Management AS Boosts Holdings in Packaging Co. of America (NYSE:PKG)

DnB Asset Management AS grew its stake in shares of Packaging Co. of America (NYSE:PKG) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,530 shares of the industrial products company’s stock after buying an additional 1,072 shares during the period. DnB Asset Management AS’s holdings in Packaging Co. of America were worth $3,947,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PKG. Orion Portfolio Solutions LLC increased its position in Packaging Co. of America by 25.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,761 shares of the industrial products company’s stock worth $1,072,000 after purchasing an additional 980 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Packaging Co. of America by 3.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 476,137 shares of the industrial products company’s stock worth $107,193,000 after buying an additional 16,900 shares in the last quarter. New Age Alpha Advisors LLC raised its position in shares of Packaging Co. of America by 5,561.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 4,642 shares of the industrial products company’s stock valued at $1,045,000 after buying an additional 4,560 shares during the last quarter. Norges Bank purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $258,928,000. Finally, UniSuper Management Pty Ltd boosted its position in Packaging Co. of America by 14.9% during the fourth quarter. UniSuper Management Pty Ltd now owns 10,462 shares of the industrial products company’s stock worth $2,355,000 after acquiring an additional 1,360 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Up 1.2 %

Shares of NYSE:PKG opened at $197.94 on Tuesday. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The stock has a 50-day simple moving average of $209.67 and a 200-day simple moving average of $222.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a market capitalization of $17.77 billion, a P/E ratio of 22.17, a PEG ratio of 2.41 and a beta of 0.77.

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 (EPS) for the quarter, missing the consensus estimate 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%. Equities analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial reissued a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company dropped their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Two equities research 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 company. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Company 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.