Nissay Asset Management Corp Japan ADV Has $2.47 Million Stake in Packaging Co. of America (NYSE:PKG)

Nissay Asset Management Corp Japan ADV increased its position in Packaging Co. of America (NYSE:PKG) by 0.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,857 shares of the industrial products company’s stock after purchasing an additional 80 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Packaging Co. of America were worth $2,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in Packaging Co. of America in the 4th quarter worth approximately $44,000. Lazard Asset Management LLC raised its holdings in shares of Packaging Co. of America by 1,033.3% during the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 186 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter valued at $48,000. Rialto Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter valued at $63,000. Finally, Intact Investment Management Inc. bought a new position in shares of Packaging Co. of America during the 4th quarter valued at $68,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG opened at $194.33 on Friday. 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 company has a market capitalization of $17.49 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. The company’s fifty day moving average price is $189.59 and its 200 day moving average price is $214.35. Packaging Co. of America has a one year low of $172.72 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. As a group, analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current 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 issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. Packaging Co. of America’s payout ratio is 52.30%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial dropped their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Three 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $226.60.

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.