MGO One Seven LLC Raises Stock Position in Packaging Co. of America (NYSE:PKG)

MGO One Seven LLC lifted its stake in shares of Packaging Co. of America (NYSE:PKG) by 11.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,657 shares of the industrial products company’s stock after acquiring an additional 280 shares during the quarter. MGO One Seven LLC’s holdings in Packaging Co. of America were worth $598,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC lifted its position in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $48,000. Rialto Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $63,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth approximately $68,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 2.1 %

Shares of Packaging Co. of America stock opened at $184.84 on Monday. The company has a market cap of $16.62 billion, a P/E ratio of 20.70, a PEG ratio of 2.41 and a beta of 0.84. 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 one year low of $172.37 and a one year high of $250.82. The firm has a fifty day moving average of $196.03 and a two-hundred day moving average of $218.15.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.71%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 52.30%.

Wall Street Analyst Weigh In

Several analysts recently commented on PKG shares. Truist Financial reduced their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Citigroup upped their price target 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. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Wells Fargo & Company reduced their price target on shares of Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $231.60.

Packaging Co. of America Company 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.