Packaging Co. of America (NYSE:PKG) Stock Holdings Boosted by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC increased its position in Packaging Co. of America (NYSE:PKG) by 12.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,097 shares of the industrial products company’s stock after acquiring an additional 118 shares during the period. Miracle Mile Advisors LLC’s holdings in Packaging Co. of America were worth $217,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PKG. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $293,000. AlphaQuest LLC grew its holdings in Packaging Co. of America by 25.3% in the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after buying an additional 1,954 shares in the last quarter. Distillate Capital Partners LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $15,828,000. Strategic Financial Concepts LLC bought a new stake in Packaging Co. of America during the 4th quarter valued at $6,966,000. Finally, Sciencast Management LP bought a new stake in Packaging Co. of America during the 4th quarter valued at $2,853,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $193.22 on Thursday. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $188.53 and a two-hundred day moving average of $208.98. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.21 by $0.10. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.59%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 52.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PKG. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial decreased their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. UBS Group assumed coverage on shares of Packaging Co. of America in a research note on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 price target for the company. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $180.00 price objective (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.17.

About Packaging Co. of America

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.