Focus Partners Wealth Acquires 2,290 Shares of Packaging Co. of America (NYSE:PKG)

Focus Partners Wealth raised its holdings in shares of Packaging Co. of America (NYSE:PKG) by 42.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,696 shares of the industrial products company’s stock after purchasing an additional 2,290 shares during the period. Focus Partners Wealth’s holdings in Packaging Co. of America were worth $1,733,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Packaging Co. of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock worth $2,571,821,000 after acquiring an additional 133,575 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Packaging Co. of America by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after acquiring an additional 132,836 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Packaging Co. of America by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock worth $531,540,000 after acquiring an additional 29,427 shares in the last quarter. Invesco Ltd. raised its position in shares of Packaging Co. of America by 0.8% in the 4th quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock worth $417,187,000 after acquiring an additional 14,775 shares in the last quarter. Finally, Boston Partners raised its position in shares of Packaging Co. of America by 7.0% in the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock worth $352,305,000 after acquiring an additional 101,755 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 1.9%

Shares of NYSE:PKG opened at $194.33 on Friday. The stock has a fifty day simple moving average of $189.59 and a two-hundred day simple moving average of $214.45. The stock has a market capitalization of $17.49 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 12-month low of $172.72 and a 12-month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America’s dividend payout ratio is currently 52.30%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PKG. Wells Fargo & Company reissued an “equal weight” rating and issued a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. 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. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Finally, Truist Financial reduced their price objective on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus price target of $226.60.

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.