Zacks Investment Management Makes New Investment in Packaging Co. of America (NYSE:PKG)

Zacks Investment Management acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,015 shares of the industrial products company's stock, valued at approximately $3,831,000.

Several other large investors have also recently made changes to their positions in PKG. SYM FINANCIAL Corp lifted its position in Packaging Co. of America by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company's stock valued at $316,000 after purchasing an additional 42 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Packaging Co. of America by 1.7% in the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock valued at $582,000 after acquiring an additional 43 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Packaging Co. of America by 3.9% in the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company's stock valued at $262,000 after acquiring an additional 44 shares during the last quarter. AlphaMark Advisors LLC increased its stake in Packaging Co. of America by 3.9% during the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company's stock worth $312,000 after acquiring an additional 52 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its stake in Packaging Co. of America by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company's stock worth $370,000 after acquiring an additional 52 shares during the last quarter. 89.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

PKG has been the subject of a number of recent research reports. Truist Financial reiterated a "buy" rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Citigroup raised their target price on shares of 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 cut their price target on shares of Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $237.80.

Packaging Co. of America Trading Up 0.2 %

PKG stock opened at $187.07 on Friday. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The firm's 50-day moving average is $198.99 and its 200 day moving average is $219.29. The company has a market capitalization of $16.82 billion, a PE ratio of 20.95, a P/E/G ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America's dividend payout ratio is 55.99%.

About Packaging Co. of America

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.

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