Packaging Co. of America (NYSE:PKG) Stake Boosted by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its stake in Packaging Co. of America (NYSE:PKG) by 13.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,283 shares of the industrial products company’s stock after purchasing an additional 1,374 shares during the quarter. Advisors Asset Management Inc.’s holdings in Packaging Co. of America were worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Raymond James & Associates boosted its position in Packaging Co. of America by 6.2% during the 4th quarter. Raymond James & Associates now owns 169,138 shares of the industrial products company’s stock worth $27,554,000 after acquiring an additional 9,861 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Packaging Co. of America by 17.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,399 shares of the industrial products company’s stock valued at $2,672,000 after buying an additional 2,433 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Packaging Co. of America by 40.7% during the 4th quarter. Pacer Advisors Inc. now owns 8,195 shares of the industrial products company’s stock valued at $1,335,000 after buying an additional 2,369 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $668,000. Finally, Blue Trust Inc. lifted its holdings in shares of Packaging Co. of America by 17.9% during the 4th quarter. Blue Trust Inc. now owns 2,433 shares of the industrial products company’s stock valued at $374,000 after buying an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $199.00 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $184.62 and its two-hundred day moving average is $179.43. The company has a market cap of $17.87 billion, a P/E ratio of 24.88, a P/E/G ratio of 5.26 and a beta of 0.77. Packaging Co. of America has a 12 month low of $143.82 and a 12 month high of $199.42.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 EPS. On average, equities analysts expect that Packaging Co. of America will post 8.62 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Friday, June 14th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

PKG has been the subject of several research reports. Truist Financial lifted their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday. Bank of America lifted their price target on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a report on Friday, April 12th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

Insider Activity

In related news, Director Karen E. Gowland purchased 300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now directly owns 916 shares in the company, valued at $166,766.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.