Private Advisor Group LLC Has $1.59 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Private Advisor Group LLC cut its stake in shares of Packaging Co. of America (NYSE:PKG) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,390 shares of the industrial products company’s stock after selling 911 shares during the period. Private Advisor Group LLC’s holdings in Packaging Co. of America were worth $1,592,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its position in Packaging Co. of America by 4.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after purchasing an additional 3,078 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Packaging Co. of America by 30.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after buying an additional 21,143 shares during the period. Summit Financial Strategies Inc. raised its stake in Packaging Co. of America by 5.5% in the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after buying an additional 12,129 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Packaging Co. of America by 6.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock valued at $41,839,000 after buying an additional 14,277 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in Packaging Co. of America by 10.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company’s stock valued at $20,678,000 after buying an additional 10,516 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on PKG. Citigroup upped their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial reiterated a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their target price on 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $228.79 on Thursday. The firm has a market cap of $20.55 billion, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 3.20 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $231.30. The business’s 50 day moving average is $213.79 and its 200-day moving average is $195.09.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 earnings per share. Equities research analysts predict that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Packaging Co. of America 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.