Farther Finance Advisors LLC Acquires 120 Shares of Packaging Co. of America (NYSE:PKG)

Farther Finance Advisors LLC grew its holdings in Packaging Co. of America (NYSE:PKG) by 25.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 591 shares of the industrial products company’s stock after acquiring an additional 120 shares during the period. Farther Finance Advisors LLC’s holdings in Packaging Co. of America were worth $127,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in Packaging Co. of America by 1.5% in the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock worth $520,920,000 after acquiring an additional 41,903 shares during the period. Boston Partners raised its position in Packaging Co. of America by 49.3% in the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after acquiring an additional 477,487 shares during the period. Dimensional Fund Advisors LP raised its position in Packaging Co. of America by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after acquiring an additional 86,005 shares during the period. Millennium Management LLC raised its position in Packaging Co. of America by 34.3% in the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after acquiring an additional 262,315 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Packaging Co. of America by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock worth $164,985,000 after acquiring an additional 42,465 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PKG has been the subject of a number of analyst reports. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup increased their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $221.60.

Packaging Co. of America Stock Performance

PKG opened at $241.49 on Tuesday. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 3.40 and a beta of 0.76. The company has a fifty day moving average of $218.57 and a 200 day moving average of $198.53. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $245.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. Packaging Co. of America’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the company posted $2.05 earnings per share. As a group, sell-side analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. Packaging Co. of America’s payout ratio is currently 58.28%.

Packaging Co. of America Company Profile

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.