Patrick M Sweeney & Associates Inc. Acquires New Position in Packaging Co. of America (NYSE:PKG)

Patrick M Sweeney & Associates Inc. acquired a new position in shares of Packaging Co. of America (NYSE:PKG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 985 shares of the industrial products company’s stock, valued at approximately $212,000.

A number of other large investors have also recently bought and sold shares of the business. Park Avenue Securities LLC lifted its holdings in shares of Packaging Co. of America by 7.3% in the 1st quarter. Park Avenue Securities LLC now owns 4,327 shares of the industrial products company’s stock worth $821,000 after purchasing an additional 293 shares during the last quarter. GoalVest Advisory LLC bought a new stake in Packaging Co. of America in the first quarter valued at $66,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Packaging Co. of America during the first quarter valued at $377,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Packaging Co. of America by 5.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,217 shares of the industrial products company’s stock worth $5,165,000 after acquiring an additional 1,421 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America in the 1st quarter worth about $25,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 5.5 %

Packaging Co. of America stock opened at $228.65 on Thursday. Packaging Co. of America has a 12-month low of $145.02 and a 12-month high of $231.30. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The stock has a market capitalization of $20.54 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 4.33 and a beta of 0.77. The firm has a 50 day simple moving average of $210.82 and a 200-day simple moving average of $193.70.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company posted $2.05 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts expect that Packaging Co. of America will post 8.73 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PKG shares. Citigroup boosted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Truist Financial raised their target price on Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $216.00.

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.