Avantax Advisory Services Inc. Has $3.92 Million Position in Packaging Co. of America (NYSE:PKG)

Avantax Advisory Services Inc. boosted its holdings in Packaging Co. of America (NYSE:PKG) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,396 shares of the industrial products company’s stock after acquiring an additional 624 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Packaging Co. of America were worth $3,916,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC grew its position in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares during the period. Larson Financial Group LLC lifted its stake in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America during the 4th quarter valued at $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America during the 4th quarter valued at $48,000. Finally, Assetmark Inc. lifted its stake in Packaging Co. of America by 44.6% during the 3rd 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. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 2.4 %

Shares of Packaging Co. of America stock opened at $196.68 on Friday. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82. The stock’s 50-day simple moving average is $217.04 and its 200 day simple moving average is $222.71. The stock has a market capitalization of $17.66 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.41 and a beta of 0.77. 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 (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s payout ratio is presently 55.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Truist Financial restated a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Wells Fargo & Company lowered their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Citigroup lifted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.