MQS Management LLC Buys New Holdings in Packaging Co. of America (NYSE:PKG)

MQS Management LLC bought a new stake in Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 988 shares of the industrial products company’s stock, valued at approximately $222,000. Packaging Co. of America makes up approximately 6.3% of MQS Management LLC’s portfolio, making the stock its 8th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in Packaging Co. of America by 150.8% during the fourth 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. Larson Financial Group LLC raised its holdings in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America during the fourth quarter worth approximately $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at $48,000. Finally, Assetmark Inc. increased its holdings in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PKG. Truist Financial reaffirmed a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Wells Fargo & Company cut their target price on shares of 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. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $206.82 on Monday. The firm’s fifty day moving average price is $219.91 and its 200 day moving average price is $223.09. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 23.16, 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 data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.42%. Packaging Co. of America’s payout ratio is currently 55.99%.

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.