Beacon Harbor Wealth Advisors Inc. Raises Holdings in Packaging Co. of America (NYSE:PKG)

Beacon Harbor Wealth Advisors Inc. lifted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 29,197 shares of the industrial products company’s stock after acquiring an additional 829 shares during the period. Packaging Co. of America makes up approximately 1.5% of Beacon Harbor Wealth Advisors Inc.’s investment portfolio, making the stock its 27th largest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in Packaging Co. of America were worth $6,573,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth about $44,000. Golden State Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth about $48,000. Finally, Assetmark Inc. lifted its holdings in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 1.6 %

Packaging Co. of America stock opened at $205.56 on Thursday. The stock has a market capitalization of $18.46 billion, a PE ratio of 23.02, a price-to-earnings-growth 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 business has a 50 day simple moving average of $221.30 and a 200-day simple moving average of $222.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data 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 net margin of 9.60% and a return on equity of 19.67%. On average, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of analyst reports. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial reissued a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company decreased their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, StockNews.com raised 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $233.00.

About Packaging Co. of America

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.