Farther Finance Advisors LLC Has $205,000 Stock Holdings in Packaging Corporation of America (NYSE:PKG)

Farther Finance Advisors LLC raised its holdings in shares of Packaging Corporation of America (NYSE:PKG) by 45.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,024 shares of the industrial products company’s stock after purchasing an additional 321 shares during the period. Farther Finance Advisors LLC’s holdings in Packaging Corporation of America were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Principal Securities Inc. lifted its stake in shares of Packaging Corporation of America by 38.9% in the 4th quarter. Principal Securities Inc. now owns 1,806 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 506 shares during the period. Allworth Financial LP grew its stake in shares of Packaging Corporation of America by 26.0% during the fourth quarter. Allworth Financial LP now owns 393 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 81 shares during the period. J.W. Cole Advisors Inc. increased its holdings in Packaging Corporation of America by 19.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 2,084 shares of the industrial products company’s stock valued at $469,000 after purchasing an additional 333 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Packaging Corporation of America by 2.6% in the fourth quarter. CIBC Asset Management Inc now owns 15,632 shares of the industrial products company’s stock valued at $3,519,000 after buying an additional 393 shares during the period. Finally, Truist Financial Corp lifted its stake in Packaging Corporation of America by 4.8% in the fourth quarter. Truist Financial Corp now owns 24,351 shares of the industrial products company’s stock valued at $5,482,000 after buying an additional 1,122 shares during the period. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the subject of a number of recent analyst reports. UBS Group began coverage on Packaging Corporation of America in a research note on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 price target for the company. Truist Financial boosted their price objective on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company reiterated an “equal weight” rating and issued a $180.00 target price (down from $205.00) on shares of Packaging Corporation of America in a report on Friday, May 9th. Wall Street Zen cut shares of Packaging Corporation of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Finally, Jefferies Financial Group cut shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and lowered their price objective for the company from $245.00 to $205.00 in a research report on Monday. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $211.80.

Packaging Corporation of America Stock Performance

Shares of PKG stock opened at $186.19 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28. Packaging Corporation of America has a 52 week low of $172.72 and a 52 week high of $250.82. The company’s 50 day moving average price is $189.20 and its two-hundred day moving average price is $206.54. The company has a market capitalization of $16.75 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84.

Packaging Corporation of America (NYSE:PKG) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. On average, analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.69%. The ex-dividend date is Friday, June 13th. Packaging Corporation of America’s payout ratio is 52.30%.

Packaging Corporation 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.