Packaging Co. of America (NYSE:PKG) Stake Lifted by Rafferty Asset Management LLC

Rafferty Asset Management LLC increased its stake in shares of Packaging Co. of America (NYSE:PKG) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,744 shares of the industrial products company’s stock after buying an additional 863 shares during the quarter. Rafferty Asset Management LLC’s holdings in Packaging Co. of America were worth $1,743,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America during the 4th quarter worth $44,000. Lazard Asset Management LLC boosted its position in shares of Packaging Co. of America by 1,033.3% in the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock worth $45,000 after buying an additional 186 shares during the period. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth about $48,000. Rialto Wealth Management LLC acquired a new position in Packaging Co. of America in the 4th quarter valued at approximately $63,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Packaging Co. of America in the fourth quarter worth $68,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Down 0.5%

Shares of PKG stock opened at $193.47 on Wednesday. The stock has a 50 day moving average of $189.56 and a 200-day moving average of $213.86. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market cap of $17.41 billion, a PE ratio of 21.67, a price-to-earnings-growth 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.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 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 analyst estimates 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, equities analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.58%. Packaging Co. of America’s payout ratio is 52.30%.

Analyst Upgrades and Downgrades

PKG has been the subject of several recent research reports. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Truist Financial cut their price target on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and a consensus target price of $226.60.

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.