FORA Capital LLC Acquires New Shares in Packaging Co. of America (NYSE:PKG)

FORA Capital LLC bought a new stake in Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,936 shares of the industrial products company's stock, valued at approximately $3,363,000.

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

Packaging Co. of America Trading Down 1.1%

Shares of NYSE:PKG traded down $2.00 on Friday, hitting $181.42. 617,068 shares of the company's stock were exchanged, compared to its average volume of 707,042. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82. The stock has a market capitalization of $16.31 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. The business's 50 day simple moving average is $190.72 and its two-hundred day simple moving average is $215.51. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.76%. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. 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. StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Truist Financial lowered their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company restated an "equal weight" rating and issued a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research report on Friday. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $226.60.

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.