111 Capital Takes $1.26 Million Position in Packaging Co. of America (NYSE:PKG)

111 Capital purchased a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,580 shares of the industrial products company's stock, valued at approximately $1,256,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $44,000. Lazard Asset Management LLC raised its position in shares of Packaging Co. of America by 1,033.3% during the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock worth $45,000 after purchasing an additional 186 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $48,000. Rialto Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $63,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $68,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on PKG. Wall Street Zen downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Truist Financial cut their price objective 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. 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. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.60.

Packaging Co. of America Trading Up 0.0%

PKG traded up $0.02 during trading on Friday, hitting $193.02. The company's stock had a trading volume of 1,062,503 shares, compared to its average volume of 724,197. The firm's 50 day moving average price is $188.78 and its 200-day moving average price is $211.81. 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 cap of $17.37 billion, a PE ratio of 21.61, a PEG ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82.

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

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid 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 2.59%. Packaging Co. of America's dividend payout ratio is presently 52.30%.

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.