Cibc World Markets Corp Purchases 36,139 Shares of Packaging Co. of America (NYSE:PKG)

Cibc World Markets Corp boosted its position in shares of Packaging Co. of America (NYSE:PKG) by 296.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,319 shares of the industrial products company’s stock after buying an additional 36,139 shares during the period. Cibc World Markets Corp owned approximately 0.05% of Packaging Co. of America worth $10,878,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth about $44,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $48,000. Finally, Assetmark Inc. lifted its holdings in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

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

Packaging Co. of America Trading Down 0.6 %

NYSE PKG opened at $197.37 on Wednesday. The stock has a market cap of $17.72 billion, a PE ratio of 22.10, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company’s 50-day moving average price is $215.91 and its 200-day moving average price is $222.69. 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 (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is 55.99%.

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.