Vest Financial LLC Has $2.41 Million Position in Packaging Corporation of America $PKG

Vest Financial LLC decreased its holdings in shares of Packaging Corporation of America (NYSE:PKG) by 22.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,064 shares of the industrial products company’s stock after selling 3,147 shares during the period. Vest Financial LLC’s holdings in Packaging Corporation of America were worth $2,411,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PKG. Trust Co. of Toledo NA OH acquired a new stake in shares of Packaging Corporation of America in the 2nd quarter worth about $33,000. Geneos Wealth Management Inc. increased its holdings in Packaging Corporation of America by 40.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 57 shares in the last quarter. NBT Bank N A NY purchased a new stake in shares of Packaging Corporation of America in the third quarter worth approximately $41,000. Global Wealth Strategies & Associates purchased a new stake in shares of Packaging Corporation of America in the third quarter worth approximately $44,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Packaging Corporation of America in the second quarter valued at approximately $44,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PKG shares. Zacks Research upgraded Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. UBS Group upped their target price on shares of Packaging Corporation of America from $230.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Wells Fargo & Company upgraded shares of Packaging Corporation of America from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $222.00 to $233.00 in a report on Tuesday, January 6th. Citigroup dropped their price target on shares of Packaging Corporation of America from $229.00 to $226.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Packaging Corporation of America from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $236.17.

Packaging Corporation of America Stock Down 0.7%

PKG opened at $218.53 on Friday. Packaging Corporation of America has a twelve month low of $172.71 and a twelve month high of $241.96. The company’s 50-day moving average price is $206.21 and its two-hundred day moving average price is $206.23. The stock has a market cap of $19.66 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 1.68 and a beta of 0.88. The company has a quick ratio of 2.00, a current ratio of 3.16 and a debt-to-equity ratio of 0.84.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported $2.73 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.10). Packaging Corporation of America had a return on equity of 19.72% and a net margin of 10.18%.The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the firm posted $2.65 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Monday, December 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, December 15th. Packaging Corporation of America’s dividend payout ratio is currently 50.56%.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE: PKG) is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.

Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.