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

Sierra Summit Advisors LLC boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 23.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,075 shares of the industrial products company’s stock after acquiring an additional 953 shares during the period. Sierra Summit Advisors LLC’s holdings in Packaging Co. of America were worth $1,143,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC raised its holdings in shares of Packaging Co. of America by 17.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after acquiring an additional 2,946 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $293,000. AlphaQuest LLC raised its stake in shares of Packaging Co. of America by 25.3% in the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after purchasing an additional 1,954 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $6,966,000. Finally, Sciencast Management LP purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $2,853,000. 89.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company lowered 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 report on Thursday, January 30th. 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 restated a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday. Three analysts have rated the stock with a hold rating, four have assigned 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 target price of $233.00.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $183.04 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a market cap of $16.46 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The firm’s 50-day simple moving average is $205.91 and its two-hundred day simple moving average is $221.66.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 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, equities analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

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

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.