Axecap Investments LLC Buys Shares of 19,023 Packaging Co. of America (NYSE:PKG)

Axecap Investments LLC purchased a new stake in shares of Packaging Co. of America (NYSE:PKG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 19,023 shares of the industrial products company’s stock, valued at approximately $4,098,000. Packaging Co. of America accounts for about 3.1% of Axecap Investments LLC’s holdings, making the stock its 4th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America during the 1st quarter valued at $25,000. Asset Dedication LLC raised its holdings in Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the period. Central Pacific Bank Trust Division bought a new position in Packaging Co. of America in the 3rd quarter worth $32,000. Tortoise Investment Management LLC bought a new position in Packaging Co. of America in the 2nd quarter worth $33,000. Finally, Headlands Technologies LLC bought a new position in Packaging Co. of America in the 1st quarter worth $43,000. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Up 5.5 %

Shares of NYSE PKG opened at $228.65 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The company has a market cap of $20.54 billion, a P/E ratio of 28.69, a PEG ratio of 4.33 and a beta of 0.77. Packaging Co. of America has a 1 year low of $145.02 and a 1 year high of $231.30. The firm has a 50-day simple moving average of $210.82 and a two-hundred day simple moving average of $193.70.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. Research analysts anticipate that Packaging Co. of America will post 8.73 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 62.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company increased their price target on Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Truist Financial increased their price target on Packaging Co. of America from $219.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Citigroup increased their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.00.

Packaging Co. of America Company 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.