Beacon Harbor Wealth Advisors Inc. Raises Holdings in Packaging Co. of America (NYSE:PKG)

Beacon Harbor Wealth Advisors Inc. increased its position in shares of Packaging Co. of America (NYSE:PKG) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,197 shares of the industrial products company’s stock after purchasing an additional 829 shares during the quarter. Packaging Co. of America makes up approximately 1.5% of Beacon Harbor Wealth Advisors Inc.’s investment portfolio, making the stock its 27th largest position. Beacon Harbor Wealth Advisors Inc.’s holdings in Packaging Co. of America were worth $6,573,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in Packaging Co. of America by 25.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 591 shares of the industrial products company’s stock valued at $127,000 after buying an additional 120 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Packaging Co. of America by 1.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 36,536 shares of the industrial products company’s stock valued at $7,870,000 after buying an additional 633 shares in the last quarter. Van ECK Associates Corp grew its holdings in Packaging Co. of America by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 14,039 shares of the industrial products company’s stock valued at $3,210,000 after buying an additional 1,392 shares in the last quarter. National Pension Service grew its holdings in Packaging Co. of America by 25.8% in the 3rd quarter. National Pension Service now owns 175,794 shares of the industrial products company’s stock valued at $37,866,000 after buying an additional 36,059 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in Packaging Co. of America by 4.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 39,190 shares of the industrial products company’s stock valued at $8,442,000 after buying an additional 1,613 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Price Performance

PKG opened at $205.56 on Thursday. The stock’s 50-day moving average price is $221.30 and its 200 day moving average price is $222.94. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a market cap of $18.46 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Analysts Set New Price Targets

Several brokerages have issued reports on PKG. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Citigroup upped their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America 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.