MV Capital Management Inc. Trims Stock Position in Packaging Co. of America (NYSE:PKG)

MV Capital Management Inc. lowered its stake in shares of Packaging Co. of America (NYSE:PKG) by 4.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 12,326 shares of the industrial products company’s stock after selling 519 shares during the period. MV Capital Management Inc.’s holdings in Packaging Co. of America were worth $2,441,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America in the 4th quarter worth about $44,000. Lazard Asset Management LLC raised its holdings in Packaging Co. of America by 1,033.3% in the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 186 shares during the period. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America in the 4th quarter worth about $48,000. Rialto Wealth Management LLC acquired a new position in Packaging Co. of America in the 4th quarter worth about $63,000. Finally, Ameriflex Group Inc. acquired a new position in Packaging Co. of America in the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. UBS Group assumed coverage on Packaging Co. of America in a report on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 price target for the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Wall Street Zen cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Truist Financial reduced their target price on 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. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.17.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $197.20 on Wednesday. The business has a 50 day simple moving average of $188.33 and a two-hundred day simple moving average of $209.09. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82. The stock has a market capitalization of $17.74 billion, a P/E ratio of 22.08, a PEG ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.54%. Packaging Co. of America’s payout ratio is 52.30%.

Packaging Co. of America Company 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.