Packaging Co. of America (NYSE:PKG) Shares Bought by Forum Financial Management LP

Forum Financial Management LP raised its position in Packaging Co. of America (NYSE:PKG) by 65.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,786 shares of the industrial products company’s stock after acquiring an additional 705 shares during the period. Forum Financial Management LP’s holdings in Packaging Co. of America were worth $402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PKG. Jackson Creek Investment Advisors LLC acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $293,000. AlphaQuest LLC raised its position in Packaging Co. of America by 25.3% in the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after acquiring an additional 1,954 shares in the last quarter. Distillate Capital Partners LLC acquired a new stake in Packaging Co. of America in the fourth quarter valued at $15,828,000. Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth $6,966,000. Finally, Sciencast Management LP purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth $2,853,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Wells Fargo & Company reduced their price target on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Citigroup upped their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Finally, Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.80.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $187.07 on Monday. 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 fifty-two week low of $169.00 and a fifty-two week high of $250.82. The stock has a fifty day moving average of $198.57 and a two-hundred day moving average of $219.18. The company has a market capitalization of $16.82 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 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.