Trexquant Investment LP Grows Holdings in Packaging Co. of America (NYSE:PKG)

Trexquant Investment LP raised its position in shares of Packaging Co. of America (NYSE:PKG) by 371.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,694 shares of the industrial products company’s stock after purchasing an additional 83,261 shares during the quarter. Trexquant Investment LP owned 0.12% of Packaging Co. of America worth $23,795,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC lifted its stake in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after buying an additional 98 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Packaging Co. of America during the fourth quarter valued at about $44,000. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at about $48,000. Rialto Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth about $63,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth about $68,000. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company lowered their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial reiterated a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, 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. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Price Performance

PKG stock opened at $197.94 on Tuesday. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The firm has a market capitalization of $17.77 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a fifty day simple moving average of $209.67 and a two-hundred day simple moving average of $222.21. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date 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.