QRG Capital Management Inc. Acquires 11,626 Shares of Packaging Co. of America (NYSE:PKG)

QRG Capital Management Inc. raised its position in Packaging Co. of America (NYSE:PKG) by 39.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,463 shares of the industrial products company’s stock after buying an additional 11,626 shares during the quarter. QRG Capital Management Inc.’s holdings in Packaging Co. of America were worth $7,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America during the first quarter worth about $25,000. Neo Ivy Capital Management acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at about $28,000. First Horizon Advisors Inc. increased its position in shares of Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares in the last quarter. Gables Capital Management Inc. acquired a new stake in shares of Packaging Co. of America in the 4th quarter worth about $31,000. Finally, Anchor Investment Management LLC acquired a new position in Packaging Co. of America during the 4th quarter valued at about $37,000. Institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

PKG has been the subject of several analyst reports. Citigroup increased their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a research note on Friday, April 12th. Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $191.00 to $194.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Bank of America increased their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Finally, Truist Financial upped their price objective on Packaging Co. of America from $208.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday. Four equities 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, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average price target of $186.33.

Packaging Co. of America Stock Performance

NYSE:PKG traded up $5.22 during mid-day trading on Tuesday, reaching $190.98. The company’s stock had a trading volume of 406,491 shares, compared to its average volume of 621,846. The firm’s fifty day moving average price is $182.40 and its two-hundred day moving average price is $177.76. Packaging Co. of America has a 12-month low of $132.70 and a 12-month high of $191.39. The stock has a market cap of $17.15 billion, a P/E ratio of 23.49, a PEG ratio of 5.02 and a beta of 0.77. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 EPS. On average, equities analysts forecast that Packaging Co. of America will post 8.33 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, June 14th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insider Activity

In related news, Director Karen E. Gowland purchased 300 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the transaction, the director now owns 916 shares in the company, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

About Packaging Co. of America

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.