Packaging Co. of America (NYSE:PKG) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 5.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,217 shares of the industrial products company’s stock after purchasing an additional 1,421 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Packaging Co. of America were worth $5,165,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. CENTRAL TRUST Co increased its position in shares of Packaging Co. of America by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock worth $559,000 after acquiring an additional 62 shares in the last quarter. Scotia Capital Inc. increased its holdings in Packaging Co. of America by 1.2% in the 3rd quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 63 shares in the last quarter. Essex Savings Bank raised its position in Packaging Co. of America by 4.0% in the fourth quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 63 shares during the period. Mather Group LLC. lifted its stake in shares of Packaging Co. of America by 3.0% during the fourth quarter. Mather Group LLC. now owns 2,263 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 66 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Down 1.4 %

NYSE PKG opened at $180.06 on Tuesday. The company has a market capitalization of $16.17 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 4.94 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. Packaging Co. of America has a 12 month low of $127.69 and a 12 month high of $191.39. The company’s fifty day moving average price is $181.14 and its two-hundred day moving average price is $176.60.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 earnings per share. As a group, research analysts predict that Packaging Co. of America will post 8.33 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.78%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Activity

In other Packaging Co. of America news, Director Karen E. Gowland acquired 300 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a report on Friday, April 12th. Citigroup dropped their price objective on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Bank of America lifted their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, Truist Financial upped their price objective on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus price target of $183.67.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.