Baird Financial Group Inc. Purchases 892 Shares of Packaging Co. of America (NYSE:PKG)

Baird Financial Group Inc. grew its holdings in shares of Packaging Co. of America (NYSE:PKG) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,218 shares of the industrial products company’s stock after purchasing an additional 892 shares during the period. Baird Financial Group Inc.’s holdings in Packaging Co. of America were worth $4,777,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth about $44,000. Golden State Wealth Management LLC purchased a new position in Packaging Co. of America during the fourth quarter worth approximately $48,000. Rialto Wealth Management LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at $63,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $68,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PKG. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial decreased 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 report on Tuesday, April 22nd. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research report on Friday. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.60.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $181.42 on Friday. The business has a 50-day simple moving average of $190.72 and a 200-day simple moving average of $215.69. The company has a market cap of $16.31 billion, a PE ratio of 20.32, a P/E/G ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a one year low of $172.72 and a one year high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

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. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate 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, equities research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.76%. Packaging Co. of America’s dividend payout ratio is currently 52.30%.

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.