Meiji Yasuda Asset Management Co Ltd. Grows Position in Packaging Co. of America (NYSE:PKG)

Meiji Yasuda Asset Management Co Ltd. raised its position in Packaging Co. of America (NYSE:PKG) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,771 shares of the industrial products company’s stock after buying an additional 70 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Packaging Co. of America were worth $849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Larson Financial Group LLC raised its position 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 purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC increased its stake in 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 valued at $37,000 after purchasing an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth about $44,000. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the fourth quarter worth about $48,000. Finally, Rialto Wealth Management LLC acquired a new position in Packaging Co. of America in the 4th quarter valued at about $63,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of recent research reports. Truist Financial reaffirmed a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Citigroup lifted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $198.44 on Friday. 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 fifty-two week low of $169.00 and a fifty-two week high of $250.82. The firm’s fifty day simple moving average is $211.30 and its 200-day simple moving average is $222.10. The stock has a market cap of $17.82 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued 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%. Analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.52%. Packaging Co. of America’s payout ratio is 55.99%.

Packaging Co. of America Company 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.