Newbridge Financial Services Group Inc. Makes New $70,000 Investment in Packaging Co. of America (NYSE:PKG)

Newbridge Financial Services Group Inc. purchased a new stake in Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 311 shares of the industrial products company’s stock, valued at approximately $70,000.

Other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its position in shares of Packaging Co. of America by 74.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 2,096 shares of the industrial products company’s stock valued at $472,000 after acquiring an additional 894 shares in the last quarter. Entropy Technologies LP acquired a new stake in Packaging Co. of America during the fourth quarter valued at approximately $7,320,000. Apollon Wealth Management LLC grew its stake in shares of Packaging Co. of America by 10.7% in the 4th quarter. Apollon Wealth Management LLC now owns 1,534 shares of the industrial products company’s stock valued at $345,000 after purchasing an additional 148 shares during the period. Conning Inc. acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $32,329,000. Finally, Golden State Wealth Management LLC bought a new stake in Packaging Co. of America in the fourth quarter valued at $48,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG stock opened at $209.37 on Tuesday. Packaging Co. of America has a 1 year low of $163.68 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 firm’s 50 day moving average is $229.62 and its 200-day moving average is $221.35. The firm has a market capitalization of $18.80 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.40 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted 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%. Sell-side analysts forecast that Packaging Co. of America will post 10.6 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were given a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.39%. Packaging Co. of America’s payout ratio is 55.99%.

Insiders Place Their Bets

In other news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. The trade was a 20.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of a number of analyst reports. Truist Financial reissued a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup boosted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company cut their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $233.00.

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.