Packaging Co. of America (NYSE:PKG) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its position in shares of Packaging Co. of America (NYSE:PKG) by 447.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,174 shares of the industrial products company’s stock after purchasing an additional 2,594 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Packaging Co. of America were worth $714,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC grew 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 worth $37,000 after acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth $48,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth $63,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Price Performance

PKG opened at $197.30 on Friday. The stock has a market cap of $17.72 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $214.69 and a 200 day moving average price of $222.34.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.53%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

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.