Packaging Co. of America (NYSE:PKG) Shares Bought by MGO One Seven LLC

MGO One Seven LLC boosted its stake in shares of Packaging Co. of America (NYSE:PKG) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,657 shares of the industrial products company’s stock after buying an additional 280 shares during the period. MGO One Seven LLC’s holdings in Packaging Co. of America were worth $598,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its stake in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $44,000. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $48,000. Rialto Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $63,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent analyst reports. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Wells Fargo & Company decreased their price target on Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial decreased their price target on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Citigroup increased their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus target price of $231.60.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $184.84 on Monday. The stock’s 50-day moving average is $196.03 and its two-hundred day moving average is $218.15. 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 has a 1-year low of $172.37 and a 1-year high of $250.82. The company has a market cap of $16.62 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) 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. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.71%. Packaging Co. of America’s dividend payout ratio (DPR) is 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.