Sequoia Financial Advisors LLC Acquires 2,552 Shares of Packaging Corporation of America $PKG

Sequoia Financial Advisors LLC boosted its holdings in shares of Packaging Corporation of America (NYSE:PKG) by 52.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,395 shares of the industrial products company’s stock after purchasing an additional 2,552 shares during the period. Sequoia Financial Advisors LLC’s holdings in Packaging Corporation of America were worth $1,612,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PKG. Trust Co. of Toledo NA OH bought a new stake in shares of Packaging Corporation of America during the second quarter worth $33,000. Geneos Wealth Management Inc. lifted its position in Packaging Corporation of America by 40.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock worth $39,000 after buying an additional 57 shares in the last quarter. NBT Bank N A NY bought a new stake in Packaging Corporation of America during the 3rd quarter worth about $41,000. Global Wealth Strategies & Associates acquired a new stake in Packaging Corporation of America in the 3rd quarter valued at about $44,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Packaging Corporation of America in the second quarter worth about $44,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Corporation of America Stock Down 0.7%

NYSE:PKG opened at $218.53 on Friday. The company has a quick ratio of 2.00, a current ratio of 3.16 and a debt-to-equity ratio of 0.84. Packaging Corporation of America has a 12-month low of $172.71 and a 12-month high of $241.96. The stock’s fifty day simple moving average is $206.21 and its 200-day simple moving average is $206.23. The firm has a market capitalization of $19.66 billion, a P/E ratio of 22.10, a P/E/G ratio of 1.68 and a beta of 0.88.

Packaging Corporation of America (NYSE:PKG) last released its earnings results on Wednesday, October 22nd. The industrial products company reported $2.73 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.10). Packaging Corporation of America had a net margin of 10.18% and a return on equity of 19.72%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company posted $2.65 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, December 15th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, December 15th. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 50.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PKG. Wells Fargo & Company raised shares of Packaging Corporation of America from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $222.00 to $233.00 in a research note on Tuesday, January 6th. Truist Financial increased their price objective on Packaging Corporation of America from $263.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Citigroup lowered their target price on Packaging Corporation of America from $229.00 to $226.00 and set a “neutral” rating for the company in a research note on Tuesday, January 6th. JPMorgan Chase & Co. upped their price target on Packaging Corporation of America from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Finally, Zacks Research upgraded Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $236.17.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE: PKG) is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.

Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.