Commonwealth Equity Services LLC Boosts Stock Position in Packaging Co. of America (NYSE:PKG)

Commonwealth Equity Services LLC raised its stake in Packaging Co. of America (NYSE:PKG) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,437 shares of the industrial products company’s stock after purchasing an additional 4,497 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of Packaging Co. of America worth $14,057,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Stifel Financial Corp grew its position in Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after buying an additional 536,389 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Packaging Co. of America in the 4th quarter worth $50,175,000. Conning Inc. purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $32,329,000. Two Sigma Advisers LP increased its stake 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 worth $44,739,000 after acquiring an additional 142,400 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in 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 worth $691,138,000 after purchasing an additional 132,836 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 0.9 %

Packaging Co. of America stock opened at $198.53 on Tuesday. The firm has a market capitalization of $17.83 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The stock’s fifty day moving average is $216.47 and its two-hundred day moving average is $222.77.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. 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. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup upped their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company reduced their price objective 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. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.