Treasurer of the State of North Carolina Boosts Stock Holdings in Packaging Co. of America (NYSE:PKG)

Treasurer of the State of North Carolina lifted its stake in Packaging Co. of America (NYSE:PKG) by 0.5% in the fourth quarter, HoldingsChannel reports. The firm owned 40,025 shares of the industrial products company’s stock after acquiring an additional 180 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Packaging Co. of America were worth $9,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fortitude Family Office LLC grew its position in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at $48,000. Rialto Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth $63,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth $68,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Performance

Shares of PKG opened at $188.95 on Monday. The company’s 50 day simple moving average is $200.77 and its 200-day simple moving average is $220.10. The firm has a market cap of $16.99 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 12-month low of $169.00 and a 12-month 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.

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

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.65%. Packaging Co. of America’s payout ratio is 55.99%.

Analyst Upgrades and Downgrades

PKG has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Citigroup boosted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and an average price target of $237.80.

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.