Packaging Co. of America (NYSE:PKG) Shares Acquired by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its stake in shares of Packaging Co. of America (NYSE:PKG) by 79.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 666 shares of the industrial products company’s stock after buying an additional 294 shares during the period. Jones Financial Companies Lllp’s holdings in Packaging Co. of America were worth $150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its stake in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the period. Fortitude Family Office LLC lifted its stake in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth $44,000. Golden State Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth $48,000. Finally, Assetmark Inc. lifted its stake in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $196.68 on Friday. The company’s fifty day moving average price is $217.04 and its 200 day moving average price is $222.58. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm 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.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 2.54%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s payout ratio is currently 55.99%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PKG shares. Citigroup raised their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Two equities research 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $233.00.

About Packaging Co. of America

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.