NewEdge Advisors LLC Has $3.24 Million Stake in Packaging Co. of America (NYSE:PKG)

NewEdge Advisors LLC increased its stake in shares of Packaging Co. of America (NYSE:PKG) by 26.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,398 shares of the industrial products company’s stock after buying an additional 2,997 shares during the quarter. NewEdge Advisors LLC’s holdings in Packaging Co. of America were worth $3,241,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PKG. Fortitude Family Office LLC grew its holdings in shares of Packaging Co. of America by 150.8% during the 4th 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. Centricity Wealth Management LLC bought a new stake in Packaging Co. of America during the fourth quarter worth about $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the fourth quarter worth about $48,000. Rialto Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter valued at about $63,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at approximately $68,000. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the topic of a number of recent analyst reports. 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 note on Monday, January 6th. 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 dropped their price objective on 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. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Truist Financial reissued a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $237.80.

Packaging Co. of America Price Performance

Shares of PKG opened at $187.07 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a market cap of $16.82 billion, a PE ratio of 20.95, a PEG ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The business has a 50-day simple moving average of $198.57 and a two-hundred day simple moving average of $219.18.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (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%. Analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 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.