Wealthfront Advisers LLC boosted its position in Packaging Co. of America (NYSE:PKG - Free Report) by 238.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,226 shares of the industrial products company's stock after purchasing an additional 29,031 shares during the quarter. Wealthfront Advisers LLC's holdings in Packaging Co. of America were worth $9,281,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. SYM FINANCIAL Corp grew its position in shares of Packaging Co. of America by 3.1% in the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company's stock worth $316,000 after buying an additional 42 shares during the period. Mather Group LLC. grew its holdings in Packaging Co. of America by 1.7% in the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock worth $582,000 after purchasing an additional 43 shares during the period. UMB Bank n.a. grew its holdings in Packaging Co. of America by 3.9% in the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company's stock worth $262,000 after purchasing an additional 44 shares during the period. AlphaMark Advisors LLC increased its stake in shares of Packaging Co. of America by 3.9% during the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company's stock valued at $312,000 after purchasing an additional 52 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Packaging Co. of America by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company's stock valued at $370,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 89.78% of the company's stock.
PKG has been the subject of a number of analyst reports. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group raised 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 research note on Wednesday, December 18th. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Citigroup upped their price target on shares of 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, 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. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and an average price target of $233.00.
Check Out Our Latest Research Report on Packaging Co. of America
PKG traded down $5.64 during midday trading on Thursday, hitting $191.66. 815,635 shares of the company traded hands, compared to its average volume of 616,812. The company's 50-day moving average is $218.29 and its 200 day moving average is $222.85. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $17.21 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82.
Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.
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 given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 55.99%.
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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