NewEdge Advisors LLC Purchases 2,997 Shares of Packaging Co. of America (NYSE:PKG)

NewEdge Advisors LLC grew its holdings in shares of Packaging Co. of America (NYSE:PKG) by 26.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,398 shares of the industrial products company’s stock after acquiring an additional 2,997 shares during the quarter. NewEdge Advisors LLC’s holdings in Packaging Co. of America were worth $3,241,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Packaging Co. of America by 1.2% during the fourth 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. boosted its position in shares of Packaging Co. of America by 4.5% during 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 purchasing an additional 132,836 shares in the last quarter. Geode Capital Management LLC grew its stake 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 valued at $531,540,000 after buying an additional 29,427 shares during the period. Invesco Ltd. grew its stake 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 valued at $417,187,000 after buying an additional 14,775 shares during the period. Finally, Boston Partners increased its position in 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 valued at $352,305,000 after buying an additional 101,755 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Citigroup lifted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial reiterated a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Wells Fargo & Company lowered their target price on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.80.

Packaging Co. of America Price Performance

PKG opened at $187.07 on Monday. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a market capitalization of $16.82 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 2.41 and a beta of 0.84. The firm’s fifty day moving average price is $198.57 and its two-hundred day moving average price is $219.18.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a $1.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.67%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

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.