Virtu Financial LLC Purchases New Shares in Packaging Co. of America (NYSE:PKG)

Virtu Financial LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,459 shares of the industrial products company’s stock, valued at approximately $779,000.

Several other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its stake in shares of Packaging Co. of America by 150.8% in the fourth 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 in the last quarter. Larson Financial Group LLC boosted its holdings in Packaging Co. of America by 234.7% in 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. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America during the fourth quarter worth approximately $48,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $63,000. Institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the topic of a number of analyst reports. 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. Wells Fargo & Company decreased their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Truist Financial reiterated a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $200.54 on Tuesday. The company’s 50 day moving average price is $213.43 and its two-hundred day moving average price is $222.45. The firm has a market capitalization of $18.01 billion, a P/E ratio of 22.46, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. 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 released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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%. On average, equities analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

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.