Sequoia Financial Advisors LLC Raises Stock Position in Packaging Co. of America (NYSE:PKG)

Sequoia Financial Advisors LLC lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 28.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,879 shares of the industrial products company’s stock after acquiring an additional 421 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Packaging Co. of America were worth $423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. HighTower Advisors LLC boosted its position in Packaging Co. of America by 18.3% during the fourth quarter. HighTower Advisors LLC now owns 263,219 shares of the industrial products company’s stock worth $59,258,000 after purchasing an additional 40,668 shares in the last quarter. Wealthfront Advisers LLC raised its stake in shares of Packaging Co. of America by 238.1% during the 4th quarter. Wealthfront Advisers LLC now owns 41,226 shares of the industrial products company’s stock worth $9,281,000 after buying an additional 29,031 shares during the last quarter. Independent Advisor Alliance purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth about $320,000. Daiwa Securities Group Inc. grew its stake in Packaging Co. of America by 8.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 11,817 shares of the industrial products company’s stock valued at $2,660,000 after acquiring an additional 876 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Packaging Co. of America by 42.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,338 shares of the industrial products company’s stock valued at $5,704,000 after acquiring an additional 7,588 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.6 %

Shares of NYSE:PKG opened at $197.37 on Wednesday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 2.41 and a beta of 0.77. The stock’s 50-day moving average price is $215.91 and its two-hundred day moving average price is $222.69. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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%. On average, research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s payout ratio is currently 55.99%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PKG shares. Citigroup increased 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. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. 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.