Los Angeles Capital Management LLC Has $11.90 Million Holdings in Packaging Co. of America (NYSE:PKG)

Los Angeles Capital Management LLC reduced its holdings in Packaging Co. of America (NYSE:PKG) by 34.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,239 shares of the industrial products company’s stock after selling 28,733 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.06% of Packaging Co. of America worth $11,898,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Deseret Mutual Benefit Administrators raised its position in Packaging Co. of America by 15.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 49 shares during the last quarter. Coldstream Capital Management Inc. raised its position in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 54 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Packaging Co. of America by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after purchasing an additional 56 shares during the last quarter. Moors & Cabot Inc. raised its position in Packaging Co. of America by 2.1% in the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 56 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in Packaging Co. of America by 2.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after purchasing an additional 57 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on PKG. Truist Financial reiterated a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company upped their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Hold” and an average price target of $221.60.

Packaging Co. of America Price Performance

PKG opened at $241.49 on Tuesday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 12 month low of $148.50 and a 12 month high of $245.00. The company has a fifty day simple moving average of $218.57 and a 200 day simple moving average of $198.53. The stock has a market cap of $21.69 billion, a P/E ratio of 28.15, a P/E/G ratio of 3.40 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, research analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is presently 58.28%.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.