Oppenheimer & Co. Inc. Purchases 1,691 Shares of Packaging Co. of America (NYSE:PKG)

Oppenheimer & Co. Inc. grew its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 86.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,651 shares of the industrial products company's stock after purchasing an additional 1,691 shares during the period. Oppenheimer & Co. Inc.'s holdings in Packaging Co. of America were worth $822,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PKG. Larson Financial Group LLC increased its holdings in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC increased its holdings in shares of Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at about $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at about $48,000. Finally, Assetmark Inc. increased its holdings in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

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Packaging Co. of America Stock Up 1.5 %

NYSE:PKG traded up $3.02 during mid-day trading on Friday, reaching $206.82. The stock had a trading volume of 805,510 shares, compared to its average volume of 922,289. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. 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 business's 50 day moving average is $219.91 and its 200 day moving average is $222.94. The stock has a market cap of $18.57 billion, a P/E ratio of 23.16, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, sell-side analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.42%. Packaging Co. of America's dividend payout ratio (DPR) is presently 55.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PKG shares. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Citigroup increased their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Wells Fargo & Company dropped their price objective on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Truist Financial restated a "buy" rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and an average price target of $233.00.

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.