Newbridge Financial Services Group Inc. Makes New $70,000 Investment in Packaging Co. of America (NYSE:PKG)

Newbridge Financial Services Group Inc. bought a new stake in Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 311 shares of the industrial products company’s stock, valued at approximately $70,000.

Several other large investors also recently modified their holdings of the business. Kestra Private Wealth Services LLC grew its position in shares of Packaging Co. of America by 74.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 2,096 shares of the industrial products company’s stock valued at $472,000 after purchasing an additional 894 shares during the period. Entropy Technologies LP bought a new position in Packaging Co. of America in the fourth quarter valued at approximately $7,320,000. Apollon Wealth Management LLC lifted its stake in Packaging Co. of America by 10.7% in the fourth quarter. Apollon Wealth Management LLC now owns 1,534 shares of the industrial products company’s stock valued at $345,000 after buying an additional 148 shares in the last quarter. Conning Inc. acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $32,329,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the fourth quarter worth $48,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Down 0.4 %

PKG stock opened at $209.37 on Tuesday. The company has a market cap of $18.80 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a twelve month low of $163.68 and a twelve month high of $250.82. The business has a 50 day moving average price of $229.62 and a two-hundred day moving average price of $221.35. 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 (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 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 10.6 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.39%. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Insider Activity

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now owns 8,881 shares of the company’s stock, valued at $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on PKG. Citigroup boosted 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. Wells Fargo & Company cut their price target on 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. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Truist Financial restated a “buy” rating and issued 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. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.