Merit Financial Group LLC Has $923,000 Stock Holdings in Packaging Co. of America (NYSE:PKG)

Merit Financial Group LLC boosted its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 169.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,661 shares of the industrial products company's stock after buying an additional 2,929 shares during the period. Merit Financial Group LLC's holdings in Packaging Co. of America were worth $923,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. NBC Securities Inc. boosted its holdings in shares of Packaging Co. of America by 112,620.0% during the first quarter. NBC Securities Inc. now owns 11,272 shares of the industrial products company's stock worth $2,232,000 after acquiring an additional 11,262 shares during the period. American National Bank & Trust lifted its holdings in Packaging Co. of America by 1,681.6% during the 1st quarter. American National Bank & Trust now owns 9,674 shares of the industrial products company's stock worth $1,916,000 after purchasing an additional 9,131 shares during the last quarter. Czech National Bank boosted its stake in Packaging Co. of America by 5.9% in the 1st quarter. Czech National Bank now owns 20,480 shares of the industrial products company's stock valued at $4,055,000 after purchasing an additional 1,146 shares during the period. Rhumbline Advisers grew its holdings in Packaging Co. of America by 0.7% in the 1st quarter. Rhumbline Advisers now owns 191,465 shares of the industrial products company's stock valued at $37,914,000 after buying an additional 1,381 shares in the last quarter. Finally, Summit Global Investments increased its position in Packaging Co. of America by 308.4% during the 1st quarter. Summit Global Investments now owns 49,252 shares of the industrial products company's stock worth $9,753,000 after buying an additional 37,193 shares during the period. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Price Performance

PKG stock traded up $0.18 during mid-day trading on Monday, hitting $196.58. The stock had a trading volume of 811,390 shares, compared to its average volume of 732,993. The firm has a fifty day simple moving average of $188.27 and a 200 day simple moving average of $209.52. The firm has a market capitalization of $17.69 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.41 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52 week low of $172.72 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. As a group, research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.54%. Packaging Co. of America's dividend payout ratio is currently 52.30%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial reduced their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $180.00 target price (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Finally, UBS Group initiated coverage on Packaging Co. of America in a research report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Packaging Co. of America presently has an average rating of "Moderate Buy" and an average price target of $222.17.

Packaging Co. 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.