Packaging Co. of America (NYSE:PKG) Stock Holdings Lifted by AlphaQuest LLC

AlphaQuest LLC lifted its position in Packaging Co. of America (NYSE:PKG) by 25.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,683 shares of the industrial products company’s stock after acquiring an additional 1,954 shares during the quarter. AlphaQuest LLC’s holdings in Packaging Co. of America were worth $2,180,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC raised its position 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 valued at $37,000 after buying an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter valued at $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth about $48,000. Finally, Assetmark Inc. grew its stake in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the subject of a number of research analyst reports. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Citigroup upped their price target on shares of 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. Finally, Truist Financial reiterated a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Performance

Shares of PKG opened at $206.82 on Friday. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company’s fifty day moving average is $219.91 and its 200-day moving average is $222.94. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Equities analysts expect 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 will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.42%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

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.