SVB Wealth LLC Invests $246,000 in Packaging Co. of America (NYSE:PKG)

SVB Wealth LLC purchased a new position in Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,094 shares of the industrial products company’s stock, valued at approximately $246,000.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC lifted 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 purchasing an additional 98 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of 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 worth $35,000 after purchasing an additional 115 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $48,000. Finally, Assetmark Inc. lifted its holdings in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 1.6 %

PKG opened at $205.56 on Thursday. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock’s fifty day moving average is $221.30 and its 200-day moving average is $222.94. The company has a market capitalization of $18.46 billion, a PE ratio of 23.02, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its earnings results 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 return on equity of 19.67% and a net margin of 9.60%. On average, equities analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s payout ratio is 55.99%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PKG. Truist Financial reissued a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup lifted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average price target of $233.00.

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.