SG Americas Securities LLC Acquires 17,168 Shares of Packaging Co. of America (NYSE:PKG)

SG Americas Securities LLC boosted its holdings in Packaging Co. of America (NYSE:PKG) by 2,307.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 17,912 shares of the industrial products company’s stock after purchasing an additional 17,168 shares during the period. SG Americas Securities LLC’s holdings in Packaging Co. of America were worth $3,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Packaging Co. of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock worth $2,571,821,000 after buying an additional 133,575 shares during the period. Charles Schwab Investment Management Inc. increased its position in Packaging Co. of America by 4.5% in 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 buying an additional 132,836 shares during the period. Geode Capital Management LLC increased its position in Packaging Co. of America by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock worth $531,540,000 after buying an additional 29,427 shares during the period. Invesco Ltd. increased its position in Packaging Co. of America by 0.8% in the 4th 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 period. Finally, Boston Partners increased its position in Packaging Co. of America by 7.0% in the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock worth $352,305,000 after buying an additional 101,755 shares during the period. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Performance

PKG opened at $188.30 on Friday. The stock has a market cap of $16.94 billion, a PE ratio of 21.09, a P/E/G ratio of 2.41 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1 year low of $172.72 and a 1 year high of $250.82. The stock’s 50 day simple moving average is $189.04 and its 200-day simple moving average is $208.20.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Sell-side analysts forecast that Packaging Co. of America will post 10.44 EPS for the current 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 $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America’s dividend payout ratio is 52.30%.

Analyst Upgrades and Downgrades

PKG has been the topic of several recent analyst reports. Wall Street Zen downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Wells Fargo & Company restated an “equal weight” rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Truist Financial lowered their price objective on 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, UBS Group started coverage on Packaging Co. of America in a research report on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price objective on the stock. Four 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $222.17.

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.