Rehmann Capital Advisory Group Acquires Shares of 890 Packaging Co. of America (NYSE:PKG)

Rehmann Capital Advisory Group bought a new position in Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 890 shares of the industrial products company’s stock, valued at approximately $200,000.

Several other institutional investors also recently modified their holdings of PKG. Vanguard Group Inc. lifted its holdings in Packaging Co. of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock worth $2,571,821,000 after acquiring an additional 133,575 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Packaging Co. of America by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after purchasing an additional 132,836 shares during the period. Geode Capital Management LLC grew its position in Packaging Co. of America by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock valued at $531,540,000 after buying an additional 29,427 shares during the period. Invesco Ltd. increased its holdings in Packaging Co. of America by 0.8% during the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock worth $417,187,000 after buying an additional 14,775 shares during the last quarter. Finally, Boston Partners raised its position in Packaging Co. of America by 7.0% in the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock worth $352,305,000 after acquiring an additional 101,755 shares during the period. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Performance

Shares of PKG opened at $187.33 on Friday. Packaging Co. of America has a 52-week low of $172.72 and a 52-week high of $250.82. The stock’s 50-day simple moving average is $193.56 and its 200 day simple moving average is $216.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a market capitalization of $16.85 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG) last announced its quarterly 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. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 52.30%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Truist Financial decreased their target price on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Finally, Citigroup upped their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $231.60.

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.