Quadcap Wealth Management LLC Takes Position in Packaging Co. of America (NYSE:PKG)

Quadcap Wealth Management LLC bought a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,012 shares of the industrial products company's stock, valued at approximately $453,000.

Other large investors also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $44,000. Lazard Asset Management LLC grew its stake 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 acquiring an additional 186 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $48,000. Rialto Wealth Management LLC bought 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 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.

Analyst Ratings Changes

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

Packaging Co. of America Price Performance

Shares of NYSE PKG traded down $0.97 during mid-day trading on Tuesday, reaching $193.47. The company had a trading volume of 512,969 shares, compared to its average volume of 716,916. The business's 50-day simple moving average is $189.53 and its 200 day simple moving average is $214.00. The firm has a market cap of $17.41 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.41 and a beta of 0.85. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a one year low of $172.72 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.14 billion for the quarter, compared to analyst estimates 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, research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm 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 2.58%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's dividend payout ratio (DPR) is presently 52.30%.

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.