Envestnet Portfolio Solutions Inc. Grows Holdings in Packaging Co. of America (NYSE:PKG)

Envestnet Portfolio Solutions Inc. increased its stake in shares of Packaging Co. of America (NYSE:PKG) by 56.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,269 shares of the industrial products company’s stock after purchasing an additional 4,409 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Packaging Co. of America were worth $2,762,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after buying an additional 536,389 shares during the period. Raymond James Financial Inc. acquired a new position in Packaging Co. of America in the 4th quarter valued at about $50,175,000. Conning Inc. purchased a new stake in Packaging Co. of America during the fourth quarter worth about $32,329,000. Two Sigma Advisers LP lifted its position in shares of Packaging Co. of America by 218.1% during the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock worth $44,739,000 after purchasing an additional 142,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Packaging Co. of America by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after purchasing an additional 132,836 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PKG. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Truist Financial reissued a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup boosted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $198.34 on Thursday. The stock’s 50-day simple moving average is $215.31 and its 200-day simple moving average is $222.52. The firm has a market capitalization of $17.81 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week 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 released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Packaging Co. of America Company 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.