Vest Financial LLC acquired a new stake in Packaging Co. of America (NYSE:PKG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,487 shares of the industrial products company's stock, valued at approximately $3,067,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. U.S. Capital Wealth Advisors LLC boosted its stake in Packaging Co. of America by 25.1% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 1,471 shares of the industrial products company's stock worth $331,000 after buying an additional 295 shares during the last quarter. Choreo LLC boosted its stake in Packaging Co. of America by 6.3% during the fourth quarter. Choreo LLC now owns 2,719 shares of the industrial products company's stock worth $612,000 after buying an additional 161 shares during the last quarter. YANKCOM Partnership acquired a new position in Packaging Co. of America during the fourth quarter worth $232,000. Bleakley Financial Group LLC boosted its stake in Packaging Co. of America by 10.3% during the fourth quarter. Bleakley Financial Group LLC now owns 1,254 shares of the industrial products company's stock worth $282,000 after buying an additional 117 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its stake in Packaging Co. of America by 1,404.8% during the fourth quarter. Oakworth Capital Inc. now owns 316 shares of the industrial products company's stock worth $71,000 after buying an additional 295 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have weighed in on PKG. Wells Fargo & Company reissued an "equal weight" rating and set a $180.00 price objective (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. UBS Group assumed coverage on Packaging Co. of America in a research note on Wednesday. They set a "neutral" rating and a $200.00 price objective on the stock. Wall Street Zen downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. 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, Truist Financial reduced their target price on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Four 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $222.17.
Read Our Latest Analysis on PKG
Packaging Co. of America Stock Performance
Shares of NYSE PKG traded up $1.77 during trading hours on Friday, reaching $196.47. The stock had a trading volume of 703,863 shares, compared to its average volume of 731,700. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.41 and a beta of 0.85. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a fifty-two week low of $172.72 and a fifty-two week high of $250.82. The firm has a 50-day moving average of $188.27 and a 200-day moving average of $210.01.
Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 19.67% and a net margin of 9.60%. Equities research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.
Packaging Co. of America Announces Dividend
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 paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's payout ratio is currently 52.30%.
Packaging Co. of America Profile
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Free Report)
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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