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

Cibc World Markets Corp boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 296.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,319 shares of the industrial products company’s stock after buying an additional 36,139 shares during the quarter. Cibc World Markets Corp’s holdings in Packaging Co. of America were worth $10,878,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PKG. Assetmark Inc. raised its position 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 worth $58,000 after acquiring an additional 83 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Packaging Co. of America by 3.6% in the third quarter. CIBC Asset Management Inc now owns 15,239 shares of the industrial products company’s stock worth $3,282,000 after purchasing an additional 534 shares in the last quarter. Swiss National Bank lifted its position in shares of Packaging Co. of America by 0.5% during the third quarter. Swiss National Bank now owns 266,500 shares of the industrial products company’s stock valued at $57,404,000 after buying an additional 1,200 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Packaging Co. of America by 256.3% in the 3rd quarter. Quest Partners LLC now owns 7,729 shares of the industrial products company’s stock valued at $1,665,000 after buying an additional 5,560 shares in the last quarter. Finally, Caprock Group LLC grew its position in shares of Packaging Co. of America by 2.6% in the 3rd quarter. Caprock Group LLC now owns 2,465 shares of the industrial products company’s stock worth $534,000 after buying an additional 63 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PKG shares. Wells Fargo & Company decreased their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Truist Financial reissued a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Down 0.6 %

Packaging Co. of America stock opened at $197.37 on Wednesday. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The company 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. 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 business’s 50-day simple moving average is $215.91 and its two-hundred day simple moving average is $222.69.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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 analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.53%. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

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.