Assenagon Asset Management S.A. Acquires 320 Shares of Packaging Co. of America (NYSE:PKG)

Assenagon Asset Management S.A. boosted its holdings in Packaging Co. of America (NYSE:PKG) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,487 shares of the industrial products company’s stock after buying an additional 320 shares during the period. Assenagon Asset Management S.A.’s holdings in Packaging Co. of America were worth $16,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PKG. Coldstream Capital Management Inc. grew its position in shares of Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after purchasing an additional 54 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after buying an additional 56 shares in the last quarter. Moors & Cabot Inc. grew its holdings in Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock valued at $491,000 after buying an additional 56 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Packaging Co. of America by 2.4% during the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock valued at $452,000 after buying an additional 57 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Packaging Co. of America by 2.8% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after buying an additional 59 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

PKG has been the topic of a number of analyst reports. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Citigroup increased their price objective on 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. Truist Financial restated a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday. Finally, Wells Fargo & Company upped their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Stock Down 0.7 %

Shares of NYSE:PKG opened at $225.86 on Friday. The firm has a market capitalization of $20.28 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a 52-week low of $148.50 and a 52-week high of $231.30. The firm has a fifty day moving average of $212.04 and a 200 day moving average of $194.21.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 19.35% and a net margin of 9.46%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 EPS. As a group, research analysts anticipate that Packaging Co. of America will post 8.77 EPS for the current fiscal 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 given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s payout ratio is currently 62.50%.

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.