Concurrent Investment Advisors LLC Buys 1,293 Shares of Packaging Co. of America (NYSE:PKG)

Concurrent Investment Advisors LLC raised its stake in shares of Packaging Co. of America (NYSE:PKG) by 16.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,059 shares of the industrial products company’s stock after acquiring an additional 1,293 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Packaging Co. of America were worth $1,951,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PKG. CANADA LIFE ASSURANCE Co lifted its holdings in Packaging Co. of America by 4.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after purchasing an additional 3,078 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Packaging Co. of America by 30.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock worth $17,168,000 after buying an additional 21,143 shares in the last quarter. Summit Financial Strategies Inc. raised its stake in shares of Packaging Co. of America by 5.5% in the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after acquiring an additional 12,129 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Packaging Co. of America by 6.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock worth $41,839,000 after acquiring an additional 14,277 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Packaging Co. of America by 10.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company’s stock worth $20,678,000 after acquiring an additional 10,516 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG stock opened at $239.48 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 12 month low of $148.50 and a 12 month high of $245.00. The firm has a market cap of $21.51 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 3.26 and a beta of 0.76. The stock has a 50-day moving average price of $217.31 and a 200 day moving average price of $197.25.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the company earned $2.05 EPS. Packaging Co. of America’s revenue was up 14.9% on a year-over-year basis. Research analysts expect that Packaging Co. of America will post 9 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 58.28%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PKG. Truist Financial reiterated a “buy” rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $221.60.

Packaging Co. of America Company 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.