Sierra Summit Advisors LLC Has $1.14 Million Position in Packaging Co. of America (NYSE:PKG)

Sierra Summit Advisors LLC increased its stake in shares of Packaging Co. of America (NYSE:PKG) by 23.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,075 shares of the industrial products company’s stock after purchasing an additional 953 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Packaging Co. of America were worth $1,143,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Fortitude Family Office LLC increased its holdings 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 in the last quarter. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America in the 4th quarter worth about $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America in the fourth quarter valued at about $48,000. Rialto Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter valued at about $63,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Packaging Co. of America during the fourth quarter worth about $68,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $183.04 on Monday. The company has a market cap of $16.46 billion, a P/E ratio of 20.50, a PEG ratio of 2.41 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $205.91 and a two-hundred day moving average price of $221.66. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 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%. As a group, analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of research reports. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup lifted 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 report on Monday, January 6th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday. Truist Financial reaffirmed a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Wells Fargo & Company decreased their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.