Invesco Ltd. Purchases 14,775 Shares of Packaging Co. of America (NYSE:PKG)

Invesco Ltd. increased its position in Packaging Co. of America (NYSE:PKG) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,853,092 shares of the industrial products company’s stock after purchasing an additional 14,775 shares during the period. Invesco Ltd. owned 2.06% of Packaging Co. of America worth $417,187,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PKG. Polymer Capital Management US LLC purchased a new position in Packaging Co. of America during the 4th quarter valued at about $243,000. Cerity Partners LLC lifted its holdings in shares of Packaging Co. of America by 2.4% during the fourth quarter. Cerity Partners LLC now owns 16,211 shares of the industrial products company’s stock valued at $3,613,000 after purchasing an additional 378 shares during the last quarter. Sierra Summit Advisors LLC boosted its position in shares of Packaging Co. of America by 23.1% in the 4th quarter. Sierra Summit Advisors LLC now owns 5,075 shares of the industrial products company’s stock worth $1,143,000 after purchasing an additional 953 shares in the last quarter. Waterloo Capital L.P. grew its stake in shares of Packaging Co. of America by 2.4% in the 4th quarter. Waterloo Capital L.P. now owns 5,144 shares of the industrial products company’s stock worth $1,158,000 after buying an additional 120 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in Packaging Co. of America during the 4th quarter valued at approximately $5,865,000. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of several analyst reports. Truist Financial restated a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their price target on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $228.50.

Packaging Co. of America Trading Down 3.0 %

NYSE:PKG opened at $175.63 on Wednesday. The firm has a market capitalization of $15.79 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The business has a fifty day moving average price of $202.67 and a 200-day moving average price of $220.84. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Sell-side analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Packaging Co. of America 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.