Krane Funds Advisors LLC Buys 398 Shares of Packaging Co. of America (NYSE:PKG)

Krane Funds Advisors LLC boosted its stake in Packaging Co. of America (NYSE:PKG) by 24.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,002 shares of the industrial products company’s stock after acquiring an additional 398 shares during the quarter. Krane Funds Advisors LLC’s holdings in Packaging Co. of America were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PKG. Public Sector Pension Investment Board boosted its position in shares of Packaging Co. of America by 15.0% during the third quarter. Public Sector Pension Investment Board now owns 3,830 shares of the industrial products company’s stock worth $825,000 after buying an additional 500 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Packaging Co. of America during the 3rd quarter worth approximately $312,000. IHT Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 3rd quarter worth approximately $268,000. Point72 Asset Management L.P. bought a new position in shares of Packaging Co. of America during the 3rd quarter worth approximately $7,883,000. Finally, State Street Corp raised its holdings in shares of Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after purchasing an additional 123,050 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PKG has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Wells Fargo & Company dropped their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Price Performance

Shares of PKG opened at $183.04 on Monday. The firm has a market capitalization of $16.46 billion, a PE ratio of 20.50, a PEG 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 company’s 50-day moving average is $205.91 and its 200-day moving average is $221.66. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82.

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 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%. Equities analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.73%. Packaging Co. of America’s payout ratio is 55.99%.

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.