AustralianSuper Pty Ltd Invests $1.46 Million in Packaging Co. of America (NYSE:PKG)

AustralianSuper Pty Ltd purchased a new stake in Packaging Co. of America (NYSE:PKG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,785 shares of the industrial products company’s stock, valued at approximately $1,461,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Boston Partners boosted its position in shares of Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after purchasing an additional 477,487 shares in the last quarter. Millennium Management LLC boosted its holdings in Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after buying an additional 262,315 shares in the last quarter. AQR Capital Management LLC grew its position in Packaging Co. of America by 164.3% during the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after buying an additional 249,483 shares during the period. International Assets Investment Management LLC increased its holdings in Packaging Co. of America by 41,151.7% in the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after buying an additional 155,142 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Packaging Co. of America by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after buying an additional 86,005 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PKG. Truist Financial restated a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price target 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. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $228.88 on Friday. The firm’s 50-day moving average is $213.79 and its two-hundred day moving average is $195.09. 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 stock has a market capitalization of $20.56 billion, a P/E ratio of 26.68, a P/E/G ratio of 3.24 and a beta of 0.77. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $232.98.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. Packaging Co. of America’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. Equities analysts predict that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.18%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

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.