Summit Global Investments Invests $2.72 Million in Packaging Co. of America (NYSE:PKG)

Summit Global Investments bought a new stake in shares of Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,059 shares of the industrial products company’s stock, valued at approximately $2,715,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC lifted its stake in Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after buying an additional 2,946 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $293,000. AlphaQuest LLC lifted its position in shares of Packaging Co. of America by 25.3% in the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after acquiring an additional 1,954 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $6,966,000. Finally, GAMMA Investing LLC boosted its stake in Packaging Co. of America by 24.2% in the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after purchasing an additional 473 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup boosted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group raised 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 research note on Wednesday, December 18th. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $194.30 on Friday. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The stock’s 50-day moving average is $214.03 and its two-hundred day moving average is $222.24. 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 $17.45 billion, a P/E ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results 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 predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.57%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

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.