Magnetar Financial LLC Acquires 22,706 Shares of Packaging Co. of America (NYSE:PKG)

Magnetar Financial LLC boosted its position in Packaging Co. of America (NYSE:PKG) by 960.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,071 shares of the industrial products company’s stock after acquiring an additional 22,706 shares during the period. Magnetar Financial LLC’s holdings in Packaging Co. of America were worth $5,644,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after acquiring an additional 123,050 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Packaging Co. of America by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after acquiring an additional 132,836 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Packaging Co. of America by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock valued at $501,896,000 after acquiring an additional 12,936 shares during the last quarter. Boston Partners boosted its holdings in 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 acquiring an additional 101,755 shares during the last quarter. Finally, FMR LLC boosted its holdings in Packaging Co. of America by 3.4% in the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after acquiring an additional 35,827 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

PKG has been the topic of several recent research reports. Truist Financial reiterated a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Seaport Res Ptn raised 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 Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company cut 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 note on Thursday, January 30th. Finally, Citigroup increased their target price on 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Trading Up 0.4 %

NYSE PKG opened at $198.34 on Thursday. The firm has a market cap of $17.81 billion, a P/E ratio of 22.21, a P/E/G ratio of 2.41 and a beta of 0.77. 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’s 50-day moving average is $215.31 and its 200-day moving average is $222.52. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82.

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

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

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.