Meiji Yasuda Life Insurance Co Invests $299,000 in Packaging Co. of America (NYSE:PKG)

Meiji Yasuda Life Insurance Co purchased a new stake in Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,330 shares of the industrial products company’s stock, valued at approximately $299,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PKG. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $293,000. AlphaQuest LLC lifted its holdings in shares of Packaging Co. of America by 25.3% in the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after purchasing an additional 1,954 shares in the last quarter. Distillate Capital Partners LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter worth $15,828,000. Strategic Financial Concepts LLC purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at $6,966,000. Finally, Sciencast Management LP purchased a new stake in Packaging Co. of America in the 4th quarter worth about $2,853,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 2.2 %

Shares of PKG stock opened at $187.33 on Friday. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82. The company has a market cap of $16.85 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $193.56 and its two-hundred day moving average is $217.01.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Equities analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.67%. Packaging Co. of America’s dividend payout ratio is presently 52.30%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Truist Financial cut their price objective on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Citigroup lifted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price objective on shares of Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.60.

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.