C M Bidwell & Associates Ltd. Takes Position in Packaging Co. of America (NYSE:PKG)

C M Bidwell & Associates Ltd. acquired a new position in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 622 shares of the industrial products company’s stock, valued at approximately $140,000.

A number of other hedge funds have also modified their holdings of PKG. Fortitude Family Office LLC lifted its position in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares in the last quarter. Larson Financial Group LLC increased its stake in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Packaging Co. of America during the 4th quarter worth about $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth about $48,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Packaging Co. of America in the 4th quarter valued at about $63,000. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PKG. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company dropped their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Down 1.4 %

Shares of PKG opened at $195.40 on Monday. The stock has a market capitalization of $17.55 billion, a PE ratio of 21.88, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $210.46 and its 200-day moving average is $222.28.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS 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 research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.56%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 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.