US Bancorp DE Buys 142 Shares of Packaging Co. of America (NYSE:PKG)

US Bancorp DE increased its stake in Packaging Co. of America (NYSE:PKG) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,574 shares of the industrial products company’s stock after acquiring an additional 142 shares during the period. US Bancorp DE owned about 0.05% of Packaging Co. of America worth $10,260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SVB Wealth LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $246,000. Wakefield Asset Management LLLP bought a new position in Packaging Co. of America during the 4th quarter valued at approximately $3,927,000. QRG Capital Management Inc. raised its position in Packaging Co. of America by 16.0% during the 4th quarter. QRG Capital Management Inc. now owns 89,380 shares of the industrial products company’s stock valued at $20,122,000 after purchasing an additional 12,305 shares during the last quarter. Versor Investments LP bought a new position in Packaging Co. of America during the 4th quarter valued at approximately $1,621,000. Finally, Proficio Capital Partners LLC bought a new position in Packaging Co. of America during the 4th quarter valued at approximately $25,291,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 1.7 %

PKG stock opened at $209.39 on Tuesday. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The business’s 50 day moving average price is $221.83 and its two-hundred day moving average price is $222.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market capitalization of $18.80 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.39%. Packaging Co. of America’s payout ratio is currently 55.99%.

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of recent analyst reports. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Seaport Res Ptn raised 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 price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Truist Financial reiterated a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

About Packaging Co. of America

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.