Oppenheimer & Co. Inc. Acquires 1,691 Shares of Packaging Co. of America (NYSE:PKG)

Oppenheimer & Co. Inc. lifted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 86.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,651 shares of the industrial products company’s stock after acquiring an additional 1,691 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Packaging Co. of America were worth $822,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Larson Financial Group LLC raised its holdings in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America in the fourth quarter worth $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America in the fourth quarter worth $48,000. Finally, Assetmark Inc. raised its holdings in Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 1.6 %

Packaging Co. of America stock opened at $205.56 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The stock has a market capitalization of $18.46 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The business’s fifty day moving average is $221.30 and its 200 day moving average is $222.94.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, sell-side analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.43%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company cut their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Truist Financial reissued a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, 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 note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

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.