FORA Capital LLC Makes New $3.36 Million Investment in Packaging Co. of America (NYSE:PKG)

FORA Capital LLC bought a new stake in Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,936 shares of the industrial products company’s stock, valued at approximately $3,363,000.

Several other institutional investors also recently bought and sold shares of PKG. Deutsche Bank AG lifted its stake in shares of Packaging Co. of America by 16.1% during the fourth quarter. Deutsche Bank AG now owns 449,025 shares of the industrial products company’s stock valued at $101,089,000 after buying an additional 62,271 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Packaging Co. of America by 95.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 74,472 shares of the industrial products company’s stock worth $16,766,000 after buying an additional 36,436 shares during the last quarter. Colonial Trust Co SC lifted its holdings in Packaging Co. of America by 3.9% in the fourth quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company’s stock worth $466,000 after purchasing an additional 78 shares during the period. Cubist Systematic Strategies LLC raised its position in Packaging Co. of America by 8,433.1% in the fourth quarter. Cubist Systematic Strategies LLC now owns 95,571 shares of the industrial products company’s stock worth $21,516,000 after acquiring an additional 94,451 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in Packaging Co. of America by 0.7% during the fourth quarter. Cetera Investment Advisers now owns 20,443 shares of the industrial products company’s stock valued at $4,602,000 after buying an additional 152 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Up 1.8 %

Shares of PKG opened at $183.31 on Friday. 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 52 week low of $172.72 and a 52 week high of $250.82. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 2.41 and a beta of 0.85. The stock has a fifty day moving average of $191.14 and a 200-day moving average of $215.93.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. As a group, sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, June 13th. Packaging Co. of America’s dividend payout ratio is currently 52.30%.

Wall Street Analyst Weigh In

PKG has been the topic of several analyst reports. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Truist Financial lowered their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their price target on Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Two 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $231.60.

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.