Princeton Global Asset Management LLC Buys 839 Shares of Packaging Co. of America (NYSE:PKG)

Princeton Global Asset Management LLC lifted its stake in shares of Packaging Co. of America (NYSE:PKG) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,010 shares of the industrial products company’s stock after purchasing an additional 839 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Packaging Co. of America were worth $4,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of Packaging Co. of America by 4.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after acquiring an additional 3,078 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Packaging Co. of America by 30.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock worth $17,168,000 after buying an additional 21,143 shares in the last quarter. Summit Financial Strategies Inc. grew its stake in Packaging Co. of America by 5.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after buying an additional 12,129 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Packaging Co. of America by 6.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock worth $41,839,000 after buying an additional 14,277 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Packaging Co. of America by 10.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company’s stock worth $20,678,000 after buying an additional 10,516 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Trading Up 0.5 %

Shares of PKG opened at $229.99 on Friday. The firm has a market cap of $20.66 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 3.24 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $232.98. The firm has a 50 day moving average price of $214.85 and a 200-day moving average price of $195.67.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data 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 firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business posted $2.05 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts forecast that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.17%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial reissued a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup boosted their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $221.60.

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.