NewEdge Advisors LLC Has $3.24 Million Stake in Packaging Co. of America (NYSE:PKG)

NewEdge Advisors LLC raised its position in Packaging Co. of America (NYSE:PKG - Free Report) by 26.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,398 shares of the industrial products company's stock after acquiring an additional 2,997 shares during the period. NewEdge Advisors LLC's holdings in Packaging Co. of America were worth $3,241,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Passumpsic Savings Bank bought a new position in Packaging Co. of America in the third quarter worth $212,000. Aldebaran Financial Inc. bought a new position in shares of Packaging Co. of America during the 3rd quarter worth about $215,000. Wilmington Savings Fund Society FSB bought a new position in shares of Packaging Co. of America during the 3rd quarter worth about $836,000. Franklin Resources Inc. boosted its position in shares of Packaging Co. of America by 4.3% during the 3rd quarter. Franklin Resources Inc. now owns 130,628 shares of the industrial products company's stock valued at $28,736,000 after acquiring an additional 5,339 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Packaging Co. of America by 8.4% in the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company's stock valued at $99,194,000 after acquiring an additional 35,614 shares during the period. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Trading Down 2.1 %

Shares of NYSE PKG traded down $3.87 during mid-day trading on Friday, hitting $184.84. The company's stock had a trading volume of 679,566 shares, compared to its average volume of 697,533. Packaging Co. of America has a one year low of $171.65 and a one year high of $250.82. The company's fifty day simple moving average is $196.03 and its 200-day simple moving average is $218.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84.

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

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's dividend payout ratio is currently 52.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PKG. Citigroup raised their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. 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. Truist Financial reduced their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Finally, Wells Fargo & Company cut their price objective on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $231.60.

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.