Envestnet Portfolio Solutions Inc. Grows Holdings in Packaging Co. of America (NYSE:PKG)

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 56.1% during the 4th quarter, HoldingsChannel reports. The firm owned 12,269 shares of the industrial products company’s stock after purchasing an additional 4,409 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Packaging Co. of America were worth $2,762,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Swiss National Bank increased its position in Packaging Co. of America by 0.5% in the 3rd quarter. Swiss National Bank now owns 266,500 shares of the industrial products company’s stock valued at $57,404,000 after acquiring an additional 1,200 shares during the period. Caprock Group LLC grew its stake in shares of Packaging Co. of America by 2.6% in the 3rd quarter. Caprock Group LLC now owns 2,465 shares of the industrial products company’s stock valued at $534,000 after purchasing an additional 63 shares during the last quarter. Prospera Financial Services Inc increased its holdings in shares of Packaging Co. of America by 2.3% in the third quarter. Prospera Financial Services Inc now owns 9,410 shares of the industrial products company’s stock valued at $2,029,000 after purchasing an additional 212 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Packaging Co. of America during the third quarter worth $916,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Packaging Co. of America by 1.2% during the third quarter. PNC Financial Services Group Inc. now owns 60,254 shares of the industrial products company’s stock worth $12,979,000 after purchasing an additional 735 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Performance

NYSE PKG opened at $198.34 on Thursday. The business has a 50 day moving average price of $215.31 and a 200 day moving average price of $222.52. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a market capitalization of $17.81 billion, a P/E ratio of 22.21, a PEG 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.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend 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%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company lowered 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. 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. Citigroup lifted their price target 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. 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 report on Thursday, January 30th. 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 company. According to data from MarketBeat.com, the stock currently 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.