Wealthfront Advisers LLC Has $9.28 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Wealthfront Advisers LLC increased its position in shares of Packaging Co. of America (NYSE:PKG) by 238.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,226 shares of the industrial products company’s stock after buying an additional 29,031 shares during the quarter. Wealthfront Advisers LLC’s holdings in Packaging Co. of America were worth $9,281,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PKG. Assetmark Inc. grew its position in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares in the last quarter. Atria Investments Inc boosted its holdings in Packaging Co. of America by 2.7% during the third quarter. Atria Investments Inc now owns 12,145 shares of the industrial products company’s stock valued at $2,616,000 after purchasing an additional 321 shares in the last quarter. Sigma Planning Corp acquired a new stake in Packaging Co. of America during the third quarter valued at approximately $541,000. Apollon Wealth Management LLC boosted its holdings in Packaging Co. of America by 24.1% during the third quarter. Apollon Wealth Management LLC now owns 1,386 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 269 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Packaging Co. of America by 1.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 229,989 shares of the industrial products company’s stock valued at $49,540,000 after purchasing an additional 2,325 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Down 0.0 %

Shares of PKG opened at $197.35 on Thursday. The company has a market capitalization of $17.72 billion, a P/E ratio of 22.10, a PEG ratio of 2.41 and a beta of 0.77. 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 has a one year low of $169.00 and a one year high of $250.82. The business’s 50 day simple moving average is $218.29 and its 200-day simple moving average is $222.85.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 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, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PKG. Truist Financial reaffirmed 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. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on 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. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock 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 given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.