EverSource Wealth Advisors LLC Has $759,000 Holdings in Packaging Corporation of America (NYSE:PKG)

EverSource Wealth Advisors LLC grew its stake in Packaging Corporation of America (NYSE:PKG) by 5.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,832 shares of the industrial products company’s stock after buying an additional 195 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Packaging Corporation of America were worth $759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Aberdeen Group plc grew its stake in shares of Packaging Corporation of America by 44.8% during the 1st quarter. Aberdeen Group plc now owns 44,804 shares of the industrial products company’s stock worth $8,823,000 after acquiring an additional 13,860 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Packaging Corporation of America by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,248,739 shares of the industrial products company’s stock worth $247,240,000 after acquiring an additional 60,710 shares in the last quarter. Horizon Investments LLC grew its stake in shares of Packaging Corporation of America by 4.8% during the 1st quarter. Horizon Investments LLC now owns 1,291 shares of the industrial products company’s stock worth $256,000 after acquiring an additional 59 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Packaging Corporation of America by 19.2% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 1,136 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 183 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Packaging Corporation of America by 20.7% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,174 shares of the industrial products company’s stock worth $629,000 after acquiring an additional 545 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

PKG has been the subject of several research reports. Jefferies Financial Group cut shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and decreased their price target for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. Citigroup raised their price target on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Truist Financial decreased their price target on shares of Packaging Corporation of America from $239.00 to $238.00 and set a “buy” rating for the company in a research note on Friday, July 25th. UBS Group raised their target price on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company raised their target price on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Packaging Corporation of America has a consensus rating of “Hold” and an average price target of $215.40.

Packaging Corporation of America Price Performance

NYSE:PKG opened at $193.46 on Friday. Packaging Corporation of America has a 1-year low of $172.71 and a 1-year high of $250.82. The company has a current ratio of 3.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.54. The firm has a fifty day simple moving average of $196.95 and a 200 day simple moving average of $196.45. The stock has a market capitalization of $17.41 billion, a PE ratio of 19.31, a P/E/G ratio of 2.27 and a beta of 0.85.

Packaging Corporation of America (NYSE:PKG) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.08%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the business earned $2.20 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, research analysts expect that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Company 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.