Creative Planning Acquires 534 Shares of Packaging Co. of America (NYSE:PKG)

Creative Planning boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,842 shares of the industrial products company’s stock after purchasing an additional 534 shares during the quarter. Creative Planning’s holdings in Packaging Co. of America were worth $3,628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PKG. Boston Partners raised its stake in Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after purchasing an additional 477,487 shares during the last quarter. Millennium Management LLC raised its position in shares of Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after buying an additional 262,315 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Packaging Co. of America by 164.3% in the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after buying an additional 249,483 shares during the period. Dimensional Fund Advisors LP grew its position in Packaging Co. of America by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after buying an additional 86,005 shares in the last quarter. Finally, Distillate Capital Partners LLC bought a new position in Packaging Co. of America during the second quarter valued at about $13,829,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.7 %

PKG stock opened at $225.86 on Friday. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $231.30. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The stock has a market capitalization of $20.28 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 4.24 and a beta of 0.77. The business’s fifty day moving average price is $212.04 and its two-hundred day moving average price is $194.18.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the firm posted $2.05 earnings per share. Packaging Co. of America’s revenue was up 14.9% compared to the same quarter last year. On average, equities analysts anticipate that Packaging Co. of America will post 8.77 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is presently 62.50%.

Analysts Set New Price Targets

A number of analysts have weighed in on PKG shares. Citigroup upped their price target on 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 target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial reissued a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Packaging Co. of America Company 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.