Jeppson Wealth Management LLC Invests $210,000 in Packaging Co. of America (NYSE:PKG)

Jeppson Wealth Management LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKG) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 976 shares of the industrial products company’s stock, valued at approximately $210,000.

Several other large investors have also modified their holdings of the stock. Deseret Mutual Benefit Administrators increased its position in Packaging Co. of America by 15.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 49 shares in the last quarter. Coldstream Capital Management Inc. grew its position in Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 54 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Packaging Co. of America by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after acquiring an additional 56 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of Packaging Co. of America by 2.1% during the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after buying an additional 56 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of Packaging Co. of America by 2.4% during the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after buying an additional 57 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $241.49 on Tuesday. The stock’s fifty day simple moving average is $218.57 and its 200 day simple moving average is $198.53. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 3.40 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.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company posted $2.05 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

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 dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.07%. Packaging Co. of America’s dividend payout ratio is 58.28%.

About Packaging Co. of America

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.