SG Americas Securities LLC Purchases 17,168 Shares of Packaging Co. of America (NYSE:PKG)

SG Americas Securities LLC increased its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 2,307.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,912 shares of the industrial products company's stock after buying an additional 17,168 shares during the quarter. SG Americas Securities LLC's holdings in Packaging Co. of America were worth $3,547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Apollon Wealth Management LLC grew its stake in Packaging Co. of America by 10.7% in the fourth quarter. Apollon Wealth Management LLC now owns 1,534 shares of the industrial products company's stock valued at $345,000 after purchasing an additional 148 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in Packaging Co. of America by 74.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 2,096 shares of the industrial products company's stock valued at $472,000 after purchasing an additional 894 shares in the last quarter. Certuity LLC purchased a new position in Packaging Co. of America in the fourth quarter valued at about $218,000. Avidian Wealth Enterprises LLC grew its stake in Packaging Co. of America by 16.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,233 shares of the industrial products company's stock valued at $278,000 after purchasing an additional 175 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Packaging Co. of America by 1.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 39,704 shares of the industrial products company's stock valued at $9,016,000 after purchasing an additional 514 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Truist Financial lowered their target price on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. UBS Group started coverage on Packaging Co. of America in a research note on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price target for the company. Wall Street Zen downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and set a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Packaging Co. of America has a consensus rating of "Moderate Buy" and an average price target of $222.17.

Packaging Co. of America Stock Down 2.6%

Shares of PKG traded down $5.01 during trading hours on Friday, hitting $188.30. 524,068 shares of the company were exchanged, compared to its average volume of 738,626. Packaging Co. of America has a 52 week low of $172.72 and a 52 week high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market cap of $16.94 billion, a PE ratio of 21.09, a PEG ratio of 2.41 and a beta of 0.84. The firm's 50 day moving average is $189.04 and its 200-day moving average is $207.93.

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

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.66%. Packaging Co. of America's payout ratio is 52.30%.

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.