Investment Management Corp VA ADV Purchases Shares of 1,987 Packaging Co. of America (NYSE:PKG)

Investment Management Corp VA ADV 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 Securities & Exchange Commission. The firm purchased 1,987 shares of the industrial products company's stock, valued at approximately $447,000.

Other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $44,000. Lazard Asset Management LLC boosted its stake in shares of Packaging Co. of America by 1,033.3% in the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 186 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $48,000. Rialto Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $63,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $68,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PKG. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Wall Street Zen downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Finally, Truist Financial decreased their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Three investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $226.60.

Packaging Co. of America Stock Performance

Shares of PKG opened at $192.48 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a market capitalization of $17.32 billion, a P/E ratio of 21.55, a P/E/G ratio of 2.41 and a beta of 0.85. The company's fifty day moving average is $189.33 and its two-hundred day moving average is $213.44. Packaging Co. of America has a 1 year low of $172.72 and a 1 year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.21 by $0.10. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 2.60%. Packaging Co. of America's payout ratio is currently 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.

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