Romano Brothers AND Company Boosts Holdings in Packaging Co. of America (NYSE:PKG)

Romano Brothers AND Company boosted its position in Packaging Co. of America (NYSE:PKG) by 1.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,895 shares of the industrial products company’s stock after purchasing an additional 90 shares during the quarter. Romano Brothers AND Company’s holdings in Packaging Co. of America were worth $969,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caprock Group LLC raised its position in shares of Packaging Co. of America by 18.7% during the 4th quarter. Caprock Group LLC now owns 2,925 shares of the industrial products company’s stock valued at $662,000 after buying an additional 460 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Packaging Co. of America by 4.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,629 shares of the industrial products company’s stock valued at $592,000 after buying an additional 119 shares in the last quarter. Greenleaf Trust raised its position in shares of Packaging Co. of America by 4.0% during the 4th quarter. Greenleaf Trust now owns 2,503 shares of the industrial products company’s stock valued at $564,000 after buying an additional 97 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Packaging Co. of America by 25.1% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 1,471 shares of the industrial products company’s stock valued at $331,000 after buying an additional 295 shares in the last quarter. Finally, Catalina Capital Group LLC raised its position in shares of Packaging Co. of America by 13.8% during the 4th quarter. Catalina Capital Group LLC now owns 1,336 shares of the industrial products company’s stock valued at $301,000 after buying an additional 162 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PKG. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial cut their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Finally, Wall Street Zen lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.60.

Packaging Co. of America Stock Up 1.0%

Shares of Packaging Co. of America stock opened at $194.18 on Wednesday. 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 stock has a market capitalization of $17.47 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 52-week low of $172.72 and a 52-week high of $250.82. The company has a 50-day simple moving average of $188.44 and a two-hundred day simple moving average of $210.71.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. On average, analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.57%. Packaging Co. of America’s dividend payout ratio is currently 52.30%.

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.