Capital Investment Advisors LLC Has $910,000 Holdings in Packaging Co. of America (NYSE:PKG)

Posted by on Jun 21st, 2023

Capital Investment Advisors LLC lessened its stake in Packaging Co. of America (NYSE:PKG – Get Rating) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,555 shares of the industrial products company’s stock after selling 452 shares during the quarter. Capital Investment Advisors LLC’s holdings in Packaging Co. of America were worth $910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Rise Advisors LLC raised its stake in Packaging Co. of America by 129.6% in the first quarter. Rise Advisors LLC now owns 721 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 407 shares in the last quarter. Empirical Finance LLC raised its stake in Packaging Co. of America by 5.2% during the first quarter. Empirical Finance LLC now owns 2,584 shares of the industrial products company’s stock worth $359,000 after acquiring an additional 127 shares in the last quarter. Symmetry Partners LLC raised its stake in Packaging Co. of America by 5.0% during the first quarter. Symmetry Partners LLC now owns 4,183 shares of the industrial products company’s stock worth $581,000 after acquiring an additional 200 shares in the last quarter. Diametric Capital LP acquired a new position in Packaging Co. of America during the fourth quarter worth about $892,000. Finally, ETF Managers Group LLC raised its stake in Packaging Co. of America by 5.0% during the fourth quarter. ETF Managers Group LLC now owns 4,639 shares of the industrial products company’s stock worth $593,000 after acquiring an additional 223 shares in the last quarter. Institutional investors and hedge funds own 90.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PKG shares. 22nd Century Group reissued a “maintains” rating on shares of Packaging Co. of America in a research note on Wednesday, April 26th. Wells Fargo & Company lowered their target price on Packaging Co. of America from $135.00 to $126.00 in a research note on Wednesday, April 26th. Bank of America upped their price objective on Packaging Co. of America from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, April 20th. VNET Group reaffirmed a “maintains” rating on shares of Packaging Co. of America in a research note on Wednesday, April 26th. Finally, StockNews.com started coverage on Packaging Co. of America in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $127.29.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $131.68 on Wednesday. The business’s 50 day simple moving average is $133.01 and its 200 day simple moving average is $134.51. Packaging Co. of America has a one year low of $110.56 and a one year high of $146.26. The stock has a market capitalization of $11.84 billion, a PE ratio of 12.64, a PEG ratio of 3.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.12 and a quick ratio of 1.91.

Packaging Co. of America (NYSE:PKG – Get Rating) last announced its earnings results on Tuesday, April 25th. The industrial products company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.07). Packaging Co. of America had a net margin of 11.61% and a return on equity of 25.59%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the company earned $2.72 earnings per share. The business’s revenue was down 7.5% on a year-over-year basis. As a group, research analysts forecast that Packaging Co. of America will post 8.12 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.80%. The ex-dividend date is Wednesday, June 14th. Packaging Co. of America’s payout ratio is presently 47.98%.

Packaging Co. of America Profile

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Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

See Also

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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