SG Americas Securities LLC Raises Holdings in Packaging Co. of America (NYSE:PKG)

SG Americas Securities LLC lifted its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 306.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,186 shares of the industrial products company's stock after acquiring an additional 12,203 shares during the quarter. SG Americas Securities LLC's holdings in Packaging Co. of America were worth $3,072,000 as of its most recent filing with the Securities & Exchange Commission.

• Packaging Corporation of America: Buy The Dip

A number of other institutional investors also recently bought and sold shares of PKG. Register Financial Advisors LLC purchased a new stake in shares of Packaging Co. of America in the first quarter worth $25,000. Neo Ivy Capital Management bought a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $28,000. First Horizon Advisors Inc. raised its stake in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company's stock worth $30,000 after purchasing an additional 69 shares during the last quarter. Gables Capital Management Inc. purchased a new position in shares of Packaging Co. of America in the fourth quarter worth $31,000. Finally, Anchor Investment Management LLC bought a new position in shares of Packaging Co. of America during the fourth quarter valued at $37,000. 89.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PKG shares. Truist Financial raised their price target on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, May 30th. Wells Fargo & Company boosted their target price on shares of Packaging Co. of America from $191.00 to $194.00 and gave the company an "overweight" rating in a research note on Wednesday, July 10th. Bank of America lifted their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 17th. Citigroup increased their target price on Packaging Co. of America from $181.00 to $187.00 and gave the company a "neutral" rating in a report on Monday, July 8th. Finally, BNP Paribas cut shares of Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 price objective on the stock. in a research note on Friday, April 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $185.17.

• Packaging Corporation of America: A Total Package to Buy and Hold

View Our Latest Stock Report on Packaging Co. of America

Insider Activity

In related news, Director Karen E. Gowland purchased 300 shares of the company's stock in a transaction that occurred on Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the transaction, the director now owns 916 shares in the company, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.

Packaging Co. of America Trading Up 1.5 %

• International Paper's 5% Yield Offers Big Value

Shares of PKG opened at $185.44 on Monday. The firm has a market cap of $16.65 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 5.02 and a beta of 0.77. Packaging Co. of America has a 1 year low of $132.70 and a 1 year high of $191.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The company has a 50 day simple moving average of $182.20 and a two-hundred day simple moving average of $177.60.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.91 billion. During the same period in the prior year, the firm earned $2.20 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts expect that Packaging Co. of America will post 8.33 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.70%. Packaging Co. of America's dividend payout ratio (DPR) is presently 62.50%.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. 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.

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