Wealth Enhancement Advisory Services LLC Purchases 607 Shares of Packaging Co. of America (NYSE:PKG)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 27,108 shares of the industrial products company’s stock after buying an additional 607 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Packaging Co. of America were worth $6,103,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Perigon Wealth Management LLC boosted its holdings in Packaging Co. of America by 17.1% in the fourth quarter. Perigon Wealth Management LLC now owns 1,408 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 206 shares during the last quarter. Caprock Group LLC lifted its stake in Packaging Co. of America by 18.7% in the fourth quarter. Caprock Group LLC now owns 2,925 shares of the industrial products company’s stock valued at $662,000 after buying an additional 460 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in Packaging Co. of America by 4.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,629 shares of the industrial products company’s stock valued at $592,000 after buying an additional 119 shares during the period. SYM FINANCIAL Corp lifted its stake in Packaging Co. of America by 3.1% in the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock valued at $316,000 after buying an additional 42 shares during the period. Finally, Greenleaf Trust lifted its stake in Packaging Co. of America by 4.0% in the fourth quarter. Greenleaf Trust now owns 2,503 shares of the industrial products company’s stock valued at $564,000 after buying an additional 97 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $192.22 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82. The stock’s 50 day moving average is $188.52 and its 200-day moving average is $210.83. The firm has a market capitalization of $17.30 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Sell-side analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America’s payout ratio is 52.30%.

Analysts Set New Price Targets

PKG has been the topic of several recent analyst reports. Truist Financial dropped their price target on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Wall Street Zen lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $226.60.

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.