APG Asset Management N.V. Increases Holdings in Packaging Co. of America (NYSE:PKG)

APG Asset Management N.V. grew its holdings in Packaging Co. of America (NYSE:PKG) by 1.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,600 shares of the industrial products company’s stock after acquiring an additional 1,000 shares during the period. APG Asset Management N.V.’s holdings in Packaging Co. of America were worth $13,175,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PKG. Fortitude Family Office LLC lifted its stake in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter worth $44,000. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $48,000. Rialto Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $63,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at about $68,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Trading Down 1.9 %

NYSE PKG opened at $185.79 on Friday. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average price is $201.21 and its 200-day moving average price is $220.24. The stock has a market cap of $16.71 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate 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%. As a group, equities analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.69%. Packaging Co. of America’s payout ratio is currently 55.99%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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 report on Monday, January 6th. Truist Financial restated a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating for the company in a report on Tuesday. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $228.50.

About Packaging Co. of America

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.