Packaging Co. of America (NYSE:PKG) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP trimmed its position in Packaging Co. of America (NYSE:PKG) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,345 shares of the industrial products company’s stock after selling 111 shares during the period. Aigen Investment Management LP’s holdings in Packaging Co. of America were worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PKG. Larson Financial Group LLC grew its position in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC grew its position in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth about $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth about $48,000. Finally, Assetmark Inc. grew its position in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PKG. Citigroup increased their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Jefferies Financial Group raised 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 research report on Wednesday, December 18th. Truist Financial reissued a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Wells Fargo & Company lowered their target price on shares of 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, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Trading Up 1.5 %

Shares of Packaging Co. of America stock opened at $206.82 on Friday. The firm has a market capitalization of $18.57 billion, a PE ratio of 23.16, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The firm’s 50-day moving average price is $220.32 and its 200 day moving average price is $222.69. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results 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 net margin of 9.60% and a return on equity of 19.67%. On average, sell-side analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

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.