Balyasny Asset Management L.P. Raises Stock Holdings in Packaging Co. of America (NYSE:PKG)

Balyasny Asset Management L.P. raised its stake in shares of Packaging Co. of America (NYSE:PKGFree Report) by 175.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 438,285 shares of the industrial products company’s stock after purchasing an additional 279,059 shares during the period. Balyasny Asset Management L.P.’s holdings in Packaging Co. of America were worth $71,401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PKG. State of Tennessee Treasury Department raised its position in shares of Packaging Co. of America by 168.3% in the 4th quarter. State of Tennessee Treasury Department now owns 73,423 shares of the industrial products company’s stock valued at $11,961,000 after purchasing an additional 46,055 shares in the last quarter. EHP Funds Inc. increased its stake in Packaging Co. of America by 85.2% during the 4th quarter. EHP Funds Inc. now owns 5,000 shares of the industrial products company’s stock valued at $815,000 after buying an additional 2,300 shares during the period. Seven Eight Capital LP increased its position in shares of Packaging Co. of America by 125.9% during the 4th quarter. Seven Eight Capital LP now owns 5,134 shares of the industrial products company’s stock valued at $836,000 after purchasing an additional 2,861 shares during the period. Vinva Investment Management Ltd lifted its stake in Packaging Co. of America by 44.7% during the fourth quarter. Vinva Investment Management Ltd now owns 2,954 shares of the industrial products company’s stock valued at $482,000 after purchasing an additional 913 shares during the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Packaging Co. of America by 43.9% during the fourth quarter. Stephens Inc. AR now owns 65,962 shares of the industrial products company’s stock valued at $10,746,000 after purchasing an additional 20,114 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland purchased 300 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the acquisition, the director now owns 916 shares in the company, valued at $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PKG. Truist Financial increased their price objective on Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a report on Friday, April 12th. Citigroup decreased their price objective on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.57.

Get Our Latest Stock Report on Packaging Co. of America

Packaging Co. of America Stock Performance

Shares of PKG opened at $184.41 on Tuesday. The firm’s 50 day moving average price is $181.07 and its two-hundred day moving average price is $174.17. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. Packaging Co. of America has a twelve month low of $127.69 and a twelve month high of $191.27. The firm has a market cap of $16.56 billion, a P/E ratio of 23.05, a PEG ratio of 7.85 and a beta of 0.78.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm posted $2.20 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts forecast that Packaging Co. of America will post 8.27 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.71%. Packaging Co. of America’s payout ratio is currently 62.50%.

Packaging Co. of America Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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