NewSquare Capital LLC Has $7.10 Million Stock Position in Packaging Co. of America (NYSE:PKG)

NewSquare Capital LLC cut its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 30.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,540 shares of the industrial products company's stock after selling 16,221 shares during the period. NewSquare Capital LLC's holdings in Packaging Co. of America were worth $7,098,000 as of its most recent filing with the Securities and Exchange Commission.

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

Packaging Co. of America Stock Down 2.0%

Shares of PKG traded down $4.02 during mid-day trading on Wednesday, hitting $193.22. 814,599 shares of the company's stock were exchanged, compared to its average volume of 735,481. The company has a market cap of $17.39 billion, a PE ratio of 21.64, a P/E/G ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 52 week low of $172.72 and a 52 week high of $250.82. The company has a 50-day simple moving average of $188.53 and a 200 day simple moving average of $208.98. 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 issued its quarterly 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. The company had revenue of $2.14 billion during 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%. On average, research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.59%. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Packaging Co. of America in a research report on Wednesday, June 4th. They issued a "neutral" rating and a $200.00 price target on the stock. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 target price (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Wall Street Zen downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Truist Financial dropped their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Four 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.17.

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.