112,340 Shares in Packaging Co. of America (NYSE:PKG) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 112,340 shares of the industrial products company’s stock, valued at approximately $25,291,000. Proficio Capital Partners LLC owned about 0.13% of Packaging Co. of America at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PKG. Larson Financial Group LLC increased its stake in shares of 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 valued at $35,000 after buying an additional 115 shares during the period. Fortitude Family Office LLC increased its position in 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 valued at $37,000 after purchasing an additional 98 shares during the period. Centricity Wealth Management LLC purchased a new position in Packaging Co. of America during the 4th quarter valued at $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter worth $48,000. Finally, Assetmark Inc. lifted its position 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 worth $58,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 2.4 %

NYSE:PKG opened at $196.68 on Friday. 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 firm has a market cap of $17.66 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The firm has a 50-day simple moving average of $217.04 and a two-hundred day simple moving average of $222.58.

Packaging Co. of America (NYSE:PKG) last announced 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 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 2.54%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PKG shares. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Truist Financial restated a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Citigroup increased their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, 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. Two 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

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.