Wealth Enhancement Advisory Services LLC Purchases 3,769 Shares of Packaging Corporation of America $PKG

Wealth Enhancement Advisory Services LLC lifted its position in Packaging Corporation of America (NYSE:PKG) by 13.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,463 shares of the industrial products company’s stock after purchasing an additional 3,769 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Packaging Corporation of America were worth $6,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. World Investment Advisors raised its stake in shares of Packaging Corporation of America by 4.1% in the 3rd quarter. World Investment Advisors now owns 1,279 shares of the industrial products company’s stock valued at $279,000 after buying an additional 50 shares in the last quarter. Advyzon Investment Management LLC boosted its position in shares of Packaging Corporation of America by 3.3% during the 2nd quarter. Advyzon Investment Management LLC now owns 1,608 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 52 shares in the last quarter. Eastern Bank increased its stake in Packaging Corporation of America by 11.0% in the third quarter. Eastern Bank now owns 555 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 55 shares during the period. Forza Wealth Management LLC raised its position in Packaging Corporation of America by 2.8% in the second quarter. Forza Wealth Management LLC now owns 2,076 shares of the industrial products company’s stock worth $391,000 after purchasing an additional 56 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Packaging Corporation of America by 40.4% in the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 57 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Corporation of America Price Performance

Shares of PKG stock opened at $225.50 on Monday. Packaging Corporation of America has a 52 week low of $172.71 and a 52 week high of $241.96. The stock has a market capitalization of $20.29 billion, a PE ratio of 22.80, a PEG ratio of 1.69 and a beta of 0.88. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 3.16. The stock’s fifty day moving average is $206.77 and its 200-day moving average is $206.43.

Packaging Corporation of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, December 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, December 15th. Packaging Corporation of America’s dividend payout ratio (DPR) is presently 50.56%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PKG shares. Wells Fargo & Company upgraded Packaging Corporation of America from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $222.00 to $233.00 in a research note on Tuesday, January 6th. JPMorgan Chase & Co. boosted 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. UBS Group increased their price objective on Packaging Corporation of America from $230.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Truist Financial boosted their target price on shares of Packaging Corporation of America from $263.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen raised shares of Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to 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 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.