XTX Topco Ltd Increases Stock Position in Packaging Co. of America (NYSE:PKG)

XTX Topco Ltd grew its position in shares of Packaging Co. of America (NYSE:PKG) by 115.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,844 shares of the industrial products company’s stock after purchasing an additional 4,199 shares during the period. XTX Topco Ltd’s holdings in Packaging Co. of America were worth $1,766,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Packaging Co. of America during the fourth quarter valued at $258,928,000. Raymond James Financial Inc. bought a new position in shares of Packaging Co. of America in the 4th quarter valued at about $50,175,000. Conning Inc. purchased a new position in Packaging Co. of America in the fourth quarter worth about $32,329,000. Vanguard Group Inc. grew its position in Packaging Co. of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock worth $2,571,821,000 after acquiring an additional 133,575 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after acquiring an additional 132,836 shares during the last quarter. 89.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on PKG shares. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Truist Financial reaffirmed a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company dropped their price target on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.80.

Packaging Co. of America Trading Up 0.8 %

Shares of PKG opened at $190.39 on Tuesday. The firm has a market capitalization of $17.12 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The company has a 50-day moving average of $200.38 and a 200 day moving average of $219.93.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) 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, research analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.63%. 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.