Packaging Co. of America (NYSE:PKG) Stock Holdings Increased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its holdings in Packaging Co. of America (NYSE:PKG) by 1.8% during the fourth quarter, Holdings Channel reports. The firm owned 3,637 shares of the industrial products company’s stock after purchasing an additional 66 shares during the period. EverSource Wealth Advisors LLC’s holdings in Packaging Co. of America were worth $819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stifel Financial Corp raised its holdings in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after acquiring an additional 536,389 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $50,175,000. Conning Inc. acquired a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $32,329,000. Two Sigma Advisers LP raised its holdings in shares of Packaging Co. of America by 218.1% during the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after acquiring an additional 142,400 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after acquiring an additional 132,836 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Performance

PKG stock opened at $191.66 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $17.21 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The firm has a 50 day moving average of $218.29 and a two-hundred day moving average of $222.85.

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%. As a group, equities analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 2.61%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Analyst Ratings Changes

PKG has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Packaging Co. of America currently has a consensus 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.