Deseret Mutual Benefit Administrators Purchases 49 Shares of Packaging Co. of America (NYSE:PKG)

Deseret Mutual Benefit Administrators boosted its stake in shares of Packaging Co. of America (NYSE:PKG) by 15.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 371 shares of the industrial products company’s stock after buying an additional 49 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Packaging Co. of America were worth $80,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Asset Dedication LLC grew its position in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares during the period. Central Pacific Bank Trust Division bought a new position in Packaging Co. of America during the third quarter valued at about $32,000. Tortoise Investment Management LLC bought a new position in Packaging Co. of America during the second quarter valued at about $33,000. Headlands Technologies LLC bought a new position in Packaging Co. of America during the first quarter valued at about $43,000. Finally, Strategic Financial Concepts LLC bought a new position in Packaging Co. of America during the second quarter valued at about $50,000. Institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the subject of several research reports. Citigroup increased their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, Wells Fargo & Company upped their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $221.60.

Packaging Co. of America Price Performance

NYSE PKG opened at $239.48 on Friday. The company has a market cap of $21.51 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 3.26 and a beta of 0.76. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $245.00. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The firm’s 50-day simple moving average is $217.31 and its two-hundred day simple moving average is $197.25.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Research analysts predict that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is 58.28%.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.