Allworth Financial LP Raises Stake in Packaging Co. of America (NYSE:PKG)

Allworth Financial LP increased its stake in Packaging Co. of America (NYSE:PKG) by 65.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 312 shares of the industrial products company’s stock after buying an additional 123 shares during the period. Allworth Financial LP’s holdings in Packaging Co. of America were worth $67,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in shares of Packaging Co. of America by 1.5% during the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock worth $520,920,000 after acquiring an additional 41,903 shares during the period. Boston Partners increased its holdings 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 worth $274,421,000 after purchasing an additional 477,487 shares during the period. Dimensional Fund Advisors LP raised its position in Packaging Co. of America by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after purchasing an additional 86,005 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after buying an additional 262,315 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Packaging Co. of America by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock worth $164,985,000 after buying an additional 42,465 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of research reports. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Citigroup lifted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Truist Financial restated a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and an average price target of $221.60.

Packaging Co. of America Trading Up 0.0 %

NYSE PKG opened at $228.88 on Friday. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $232.98. The company has a 50 day moving average price of $213.79 and a 200 day moving average price of $195.09. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The firm has a market cap of $20.56 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 3.20 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. As a group, sell-side analysts forecast that Packaging Co. of America will post 9 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.18%. Packaging Co. of America’s payout ratio is 62.50%.

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.