Miracle Mile Advisors LLC Buys 118 Shares of Packaging Co. of America (NYSE:PKG)

Miracle Mile Advisors LLC lifted its position in Packaging Co. of America (NYSE:PKG) by 12.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,097 shares of the industrial products company’s stock after buying an additional 118 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Packaging Co. of America were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sivia Capital Partners LLC acquired a new position in shares of Packaging Co. of America in the first quarter valued at $244,000. Littlejohn Financial Services Inc. lifted its holdings in shares of Packaging Co. of America by 2.2% during the 1st quarter. Littlejohn Financial Services Inc. now owns 8,311 shares of the industrial products company’s stock worth $1,646,000 after acquiring an additional 179 shares during the period. Atwater Malick LLC lifted its holdings in shares of Packaging Co. of America by 12.5% during the 1st quarter. Atwater Malick LLC now owns 15,059 shares of the industrial products company’s stock worth $2,982,000 after acquiring an additional 1,674 shares during the period. Vest Financial LLC acquired a new stake in shares of Packaging Co. of America during the 1st quarter valued at about $3,067,000. Finally, Financial Advisory Partners LLC increased its stake in Packaging Co. of America by 5.5% in the first quarter. Financial Advisory Partners LLC now owns 12,555 shares of the industrial products company’s stock valued at $2,486,000 after acquiring an additional 651 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

NYSE PKG opened at $193.22 on Thursday. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82. The company has a 50 day moving average of $188.53 and a 200-day moving average of $208.98. 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 $17.39 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS 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 business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. On average, equities analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America’s payout ratio is presently 52.30%.

Analysts Set New Price Targets

A number of brokerages have commented on PKG. Wells Fargo & Company restated an “equal weight” rating and set a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. UBS Group started coverage on Packaging Co. of America in a research note on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 price target on the stock. Wall Street Zen cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Finally, Truist Financial cut their price objective on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $222.17.

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.