Forsta AP Fonden Has $4.03 Million Stake in Packaging Co. of America (NYSE:PKG)

Forsta AP Fonden raised its stake in Packaging Co. of America (NYSE:PKG) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,700 shares of the industrial products company’s stock after purchasing an additional 800 shares during the quarter. Forsta AP Fonden’s holdings in Packaging Co. of America were worth $4,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Packaging Co. of America by 5.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,217 shares of the industrial products company’s stock valued at $5,165,000 after acquiring an additional 1,421 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Packaging Co. of America by 446.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 73,398 shares of the industrial products company’s stock valued at $13,929,000 after purchasing an additional 59,967 shares in the last quarter. Norden Group LLC purchased a new position in Packaging Co. of America during the first quarter worth about $530,000. First Trust Direct Indexing L.P. grew its position in Packaging Co. of America by 14.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,576 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 323 shares in the last quarter. Finally, Benchmark Financial Wealth Advisors LLC purchased a new stake in Packaging Co. of America in the 1st quarter valued at about $243,000. Institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PKG. Wells Fargo & Company boosted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup increased their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $221.60.

Packaging Co. of America Stock Down 0.6 %

PKG stock opened at $226.06 on Wednesday. The stock has a fifty day moving average of $213.23 and a 200-day moving average of $194.85. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $231.30. The company has a market capitalization of $20.30 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 3.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the business earned $2.05 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts predict that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.21%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

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.