Diversify Wealth Management LLC Purchases Shares of 46,034 Packaging Co. of America (NYSE:PKG)

Diversify Wealth Management LLC bought a new position in Packaging Co. of America (NYSE:PKG - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 46,034 shares of the industrial products company's stock, valued at approximately $10,526,000. Packaging Co. of America comprises 0.9% of Diversify Wealth Management LLC's portfolio, making the stock its 23rd biggest position. Diversify Wealth Management LLC owned 0.05% of Packaging Co. of America at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PKG. Asset Dedication LLC increased its stake in Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock worth $31,000 after buying an additional 112 shares during the period. Central Pacific Bank Trust Division purchased a new position in Packaging Co. of America during the 3rd quarter worth $32,000. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America during the 2nd quarter valued at $33,000. Headlands Technologies LLC purchased a new stake in shares of Packaging Co. of America in the 1st quarter worth $43,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Packaging Co. of America during the 2nd quarter worth $50,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

PKG stock traded up $2.73 during trading on Wednesday, reaching $228.79. The company had a trading volume of 512,300 shares, compared to its average volume of 599,121. The firm has a 50-day simple moving average of $213.79 and a 200-day simple moving average of $195.09. The company has a market cap of $20.55 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 3.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $231.30.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business's quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company posted $2.05 earnings per share. As a group, sell-side analysts expect that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America's dividend payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

PKG has been the subject of a number of research reports. Truist Financial reaffirmed a "buy" rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Citigroup boosted their price objective 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. Finally, Wells Fargo & Company increased their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.60.

Packaging Co. of America Profile

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.