Jump Financial LLC Purchases 22,621 Shares of Packaging Co. of America (NYSE:PKG)

Jump Financial LLC lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 405.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,205 shares of the industrial products company’s stock after purchasing an additional 22,621 shares during the quarter. Jump Financial LLC’s holdings in Packaging Co. of America were worth $6,350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PKG. Jackson Creek Investment Advisors LLC bought a new stake in Packaging Co. of America in the 4th quarter valued at $293,000. AlphaQuest LLC increased its stake in Packaging Co. of America by 25.3% in the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after acquiring an additional 1,954 shares during the period. Strategic Financial Concepts LLC bought a new position in Packaging Co. of America during the fourth quarter worth about $6,966,000. Sciencast Management LP acquired a new stake in Packaging Co. of America during the fourth quarter valued at approximately $2,853,000. Finally, Korea Investment CORP grew its stake in shares of Packaging Co. of America by 96.0% in the 4th quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company’s stock valued at $15,985,000 after purchasing an additional 34,784 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PKG. Truist Financial reissued a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America 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 boosted their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their price objective on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Finally, Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Two 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 MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus target price of $237.80.

Packaging Co. of America Price Performance

PKG opened at $188.51 on Wednesday. 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 stock has a market capitalization of $16.95 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company’s 50 day simple moving average is $199.90 and its 200-day simple moving average is $219.71. 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 announced its quarterly earnings data 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 net margin of 9.60% and a return on equity of 19.67%. Sell-side analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.65%. 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.