Schechter Investment Advisors LLC Boosts Stake in Packaging Co. of America (NYSE:PKG)

Schechter Investment Advisors LLC grew its holdings in Packaging Co. of America (NYSE:PKG) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,284 shares of the industrial products company’s stock after purchasing an additional 148 shares during the period. Schechter Investment Advisors LLC’s holdings in Packaging Co. of America were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Sanctuary Advisors LLC lifted its holdings in shares of Packaging Co. of America by 17.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after acquiring an additional 2,946 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $6,966,000. GAMMA Investing LLC boosted its position in shares of Packaging Co. of America by 24.2% during the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after buying an additional 473 shares during the period. Principal Financial Group Inc. grew its stake in shares of Packaging Co. of America by 8.4% in the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock valued at $99,194,000 after buying an additional 35,614 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Packaging Co. of America by 16.0% in the fourth quarter. QRG Capital Management Inc. now owns 89,380 shares of the industrial products company’s stock valued at $20,122,000 after buying an additional 12,305 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 1.6 %

Shares of PKG stock opened at $205.56 on Thursday. The firm 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 has a 1-year low of $169.00 and a 1-year high of $250.82. The business’s fifty day moving average price is $221.30 and its 200 day moving average price is $222.94. 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 posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 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%. As a group, sell-side analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

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 paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s payout ratio is 55.99%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Citigroup increased their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. 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 research report on Thursday, January 30th. Wells Fargo & Company cut their price objective 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. Finally, Jefferies Financial Group upgraded 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 report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.