Quadcap Wealth Management LLC Invests $453,000 in Packaging Co. of America (NYSE:PKG)

Quadcap Wealth Management LLC bought a new position in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, HoldingsChannel reports. The firm bought 2,012 shares of the industrial products company’s stock, valued at approximately $453,000.

A number of other institutional investors also recently modified their holdings of PKG. Quantinno Capital Management LP lifted its holdings in Packaging Co. of America by 63.1% in the fourth quarter. Quantinno Capital Management LP now owns 43,699 shares of the industrial products company’s stock worth $9,838,000 after buying an additional 16,912 shares during the period. Mufg Securities Americas Inc. purchased a new stake in Packaging Co. of America in the fourth quarter worth about $296,000. Man Group plc lifted its holdings in Packaging Co. of America by 28.0% in the fourth quarter. Man Group plc now owns 41,635 shares of the industrial products company’s stock worth $9,373,000 after buying an additional 9,097 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in Packaging Co. of America by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 10,857 shares of the industrial products company’s stock worth $2,466,000 after buying an additional 80 shares during the period. Finally, Nomura Holdings Inc. lifted its holdings in Packaging Co. of America by 46.8% in the fourth quarter. Nomura Holdings Inc. now owns 2,943 shares of the industrial products company’s stock worth $663,000 after buying an additional 938 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PKG. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report 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 price objective 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 reiterated an “equal weight” rating and set a $180.00 target price (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.60.

Packaging Co. of America Price Performance

PKG stock opened at $194.33 on Friday. The firm has a 50 day moving average price of $189.59 and a 200-day moving average price of $214.45. Packaging Co. of America has a 52-week low of $172.72 and a 52-week high of $250.82. The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.85. 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 (NYSE:PKG) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. Packaging Co. of America’s payout ratio is 52.30%.

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.