Teza Capital Management LLC Makes New $3.51 Million Investment in Packaging Co. of America (NYSE:PKG)

Teza Capital Management LLC acquired a new stake in Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,604 shares of the industrial products company’s stock, valued at approximately $3,513,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Packaging Co. of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock valued at $2,571,821,000 after purchasing an additional 133,575 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Packaging Co. of America by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after purchasing an additional 132,836 shares during the last quarter. Geode Capital Management LLC increased its holdings in Packaging Co. of America by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock worth $531,540,000 after purchasing an additional 29,427 shares during the last quarter. Invesco Ltd. increased its holdings in Packaging Co. of America by 0.8% during the 4th quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock worth $417,187,000 after purchasing an additional 14,775 shares during the last quarter. Finally, Boston Partners increased its holdings in Packaging Co. of America by 7.0% during the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock worth $352,305,000 after purchasing an additional 101,755 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PKG shares. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company reiterated an “equal weight” rating and set a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Finally, Truist Financial reduced their price target on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, three have issued 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 a consensus price target of $226.60.

Packaging Co. of America Trading Up 1.9%

Shares of Packaging Co. of America stock opened at $194.33 on Friday. 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 firm has a market cap of $17.49 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. The business has a fifty day simple moving average of $189.59 and a 200-day simple moving average of $214.35. Packaging Co. of America has a fifty-two week low of $172.72 and a fifty-two week high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. On average, equities analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America’s dividend payout ratio is 52.30%.

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.