Bridgefront Capital LLC Invests $1.23 Million in Packaging Co. of America (NYSE:PKG)

Bridgefront Capital LLC acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,451 shares of the industrial products company's stock, valued at approximately $1,227,000.

A number of other institutional investors have also made changes to their positions in PKG. Fortitude Family Office LLC grew its stake in shares of 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 acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Packaging Co. of America in the 4th quarter valued at $44,000. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America in the fourth quarter worth about $48,000. Rialto Wealth Management LLC bought a new stake in Packaging Co. of America in the fourth quarter valued at $63,000. Finally, Intact Investment Management Inc. acquired a new position in Packaging Co. of America during the fourth quarter worth $68,000. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Trading Down 1.1 %

PKG stock traded down $2.00 during midday trading on Friday, reaching $181.42. The stock had a trading volume of 617,068 shares, compared to its average volume of 704,040. The firm has a market cap of $16.31 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.41 and a beta of 0.85. 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 has a twelve month low of $172.72 and a twelve month high of $250.82. The business has a fifty day simple moving average of $191.14 and a two-hundred day simple moving average of $215.93.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, research analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's dividend payout ratio is currently 52.30%.

Analyst Ratings Changes

PKG has been the topic of several analyst reports. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a report on Friday. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, Truist Financial cut their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $226.60.

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.