Avidian Wealth Enterprises LLC Invests $228,000 in Packaging Co. of America (NYSE:PKG)

Avidian Wealth Enterprises LLC purchased a new stake in shares of Packaging Co. of America (NYSE:PKG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,058 shares of the industrial products company’s stock, valued at approximately $228,000.

A number of other hedge funds have also bought and sold shares of the business. Norden Group LLC purchased a new position in shares of Packaging Co. of America in the 1st quarter worth about $530,000. Empirical Finance LLC boosted its stake in Packaging Co. of America by 3.4% in the first quarter. Empirical Finance LLC now owns 3,300 shares of the industrial products company’s stock valued at $626,000 after acquiring an additional 108 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Packaging Co. of America by 11.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,672 shares of the industrial products company’s stock valued at $1,266,000 after acquiring an additional 668 shares during the period. AIA Group Ltd raised its holdings in shares of Packaging Co. of America by 15.1% in the 1st quarter. AIA Group Ltd now owns 8,766 shares of the industrial products company’s stock worth $1,664,000 after purchasing an additional 1,148 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Packaging Co. of America by 306.4% in the first quarter. SG Americas Securities LLC now owns 16,186 shares of the industrial products company’s stock valued at $3,072,000 after purchasing an additional 12,203 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PKG has been the topic of a number of recent research reports. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Finally, Citigroup upped their price target 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Hold” and a consensus price target of $221.60.

Packaging Co. of America Trading Down 0.9 %

Shares of PKG opened at $239.48 on Friday. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $245.00. The stock has a market cap of $21.51 billion, a PE ratio of 27.91, a P/E/G ratio of 3.26 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $217.31 and its 200-day moving average price is $197.25.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. Packaging Co. of America’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts forecast that Packaging Co. of America will post 9 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is 58.28%.

About Packaging Co. of America

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.