Cwm LLC Boosts Holdings in Packaging Co. of America (NYSE:PKG)

Cwm LLC boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,754 shares of the industrial products company’s stock after acquiring an additional 102 shares during the period. Cwm LLC’s holdings in Packaging Co. of America were worth $523,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PKG. Neo Ivy Capital Management purchased a new position in Packaging Co. of America during the 4th quarter valued at about $28,000. First Horizon Advisors Inc. lifted its position in Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the period. Gables Capital Management Inc. purchased a new position in Packaging Co. of America during the 4th quarter valued at about $31,000. Anchor Investment Management LLC purchased a new position in Packaging Co. of America during the 4th quarter valued at about $37,000. Finally, Fortis Group Advisors LLC purchased a new position in Packaging Co. of America during the 3rd quarter valued at about $46,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $183.33 on Friday. The company has a 50 day moving average price of $180.46 and a 200-day moving average price of $175.59. Packaging Co. of America has a 52 week low of $127.69 and a 52 week high of $191.27. The firm has a market capitalization of $16.46 billion, a PE ratio of 22.92, a P/E/G ratio of 5.02 and a beta of 0.78. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business posted $2.20 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts expect that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, June 14th. This represents a $5.00 annualized dividend and a yield of 2.73%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analyst Weigh In

PKG has been the subject of a number of recent research reports. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th. Citigroup reduced their price objective on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Truist Financial raised their price objective on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Bank of America raised their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $176.29.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland bought 300 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was bought at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the transaction, the director now owns 916 shares of the company’s stock, valued at approximately $166,766.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.