Wahed Invest LLC Acquires 85 Shares of Packaging Co. of America (NYSE:PKG)

Wahed Invest LLC raised its stake in shares of Packaging Co. of America (NYSE:PKG) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,237 shares of the industrial products company’s stock after buying an additional 85 shares during the quarter. Wahed Invest LLC’s holdings in Packaging Co. of America were worth $504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in shares of Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Packaging Co. of America in the fourth quarter worth about $44,000. Golden State Wealth Management LLC bought 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 position in Packaging Co. of America during the 4th quarter valued at $63,000. Finally, Intact Investment Management Inc. purchased a new stake in Packaging Co. of America in the fourth quarter worth $68,000. 89.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PKG shares. Truist Financial decreased their price objective on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. 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. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Wells Fargo & Company reduced their target price on shares of Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, Citigroup raised 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. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and an average target price of $231.60.

Packaging Co. of America Price Performance

Shares of PKG opened at $187.33 on Friday. 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 company’s fifty day moving average price is $193.56 and its 200-day moving average price is $217.01. The firm has a market capitalization of $16.85 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82.

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, beating the consensus estimate of $2.21 by $0.10. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations 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, equities research analysts predict that Packaging Co. of America will post 10.44 EPS 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. Investors of record on Friday, March 14th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 52.30%.

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.