By otakuyassine3@gmail.com 
Raymond James Financial Inc. bought a new stake in Packaging Co. of America (NYSE:PKG – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 222,870 shares of the industrial products company’s stock, valued at approximately $50,175,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in Packaging Co. of America by 25.5% in the third quarter. Farther Finance Advisors LLC now owns 591 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 120 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Packaging Co. of America in the third quarter valued at $515,000. Assetmark Inc. raised its holdings in Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares in the last quarter. Atria Investments Inc raised its holdings in Packaging Co. of America by 2.7% in the third quarter. Atria Investments Inc now owns 12,145 shares of the industrial products company’s stock valued at $2,616,000 after acquiring an additional 321 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in Packaging Co. of America in the third quarter valued at $541,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.
Packaging Co. of America Stock Down 0.9 %
Shares of NYSE:PKG opened at $197.47 on Wednesday. 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 1-year low of $169.00 and a 1-year high of $250.82. The company’s fifty day moving average is $218.85 and its two-hundred day moving average is $223.03. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.
Packaging Co. of America (NYSE:PKG – Get Free Report) last released its quarterly earnings data 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 return on equity of 19.67% and a net margin of 9.60%. Equities analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.
Packaging Co. of America Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.53%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.
Analyst Upgrades and Downgrades
PKG has been the topic of several recent analyst reports. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup increased their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Truist Financial reissued a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Two investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.00.
Packaging Co. of America 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.
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