Jeppson Wealth Management LLC Acquires New Position in Packaging Co. of America (NYSE:PKG)

Jeppson Wealth Management LLC acquired a new stake in Packaging Co. of America (NYSE:PKG) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 976 shares of the industrial products company’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently made changes to their positions in the business. Asset Dedication LLC lifted its stake in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Packaging Co. of America in the third quarter worth approximately $32,000. Tortoise Investment Management LLC purchased a new position in Packaging Co. of America in the second quarter worth approximately $33,000. Headlands Technologies LLC purchased a new position in Packaging Co. of America in the first quarter worth approximately $43,000. Finally, Strategic Financial Concepts LLC purchased a new position in Packaging Co. of America in the second quarter worth approximately $50,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG opened at $241.49 on Tuesday. 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 has a 1 year low of $148.50 and a 1 year high of $245.00. The stock has a market capitalization of $21.69 billion, a P/E ratio of 28.15, a P/E/G ratio of 3.40 and a beta of 0.76. The company’s fifty day moving average is $218.57 and its two-hundred day moving average is $198.53.

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

Packaging Co. of America Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PKG. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Citigroup upped their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Hold” and a consensus target price of $221.60.

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.