Lake Street Advisors Group LLC Makes New $206,000 Investment in Packaging Co. of America (NYSE:PKG)

Lake Street Advisors Group LLC purchased a new position in shares of Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 911 shares of the industrial products company’s stock, valued at approximately $206,000.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC raised its position in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the period. Fortitude Family Office LLC raised its position in shares of Packaging Co. of America by 150.8% in the 4th 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 period. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the 4th quarter worth $44,000. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the 4th quarter worth $48,000. Finally, Assetmark Inc. raised its position in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PKG. Citigroup increased their target price 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. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday. Truist Financial reissued a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company decreased their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Two equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Insider Buying and Selling

In other news, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $213.08 on Friday. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The company has a market capitalization of $19.14 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm’s fifty day moving average price is $222.19 and its 200 day moving average price is $222.41.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

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.