Mitsubishi UFJ Trust & Banking Corp Has $21.21 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 23.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,194 shares of the industrial products company’s stock after acquiring an additional 17,980 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Packaging Co. of America were worth $21,206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PKG. Larson Financial Group LLC grew its position in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC boosted 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 during the period. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter valued at $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter worth $48,000. Finally, Rialto Wealth Management LLC acquired a new stake in Packaging Co. of America during the fourth quarter valued at $63,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Citigroup boosted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lowered their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $198.44 on Friday. The firm has a market capitalization of $17.82 billion, a PE ratio of 22.22, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm’s fifty day simple moving average is $211.30 and its 200 day simple moving average is $222.10.

Packaging Co. of America (NYSE:PKG) last issued its quarterly 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%. On average, sell-side analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.52%. 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.