Connor Clark & Lunn Investment Management Ltd. Acquires New Position in Packaging Co. of America (NYSE:PKG)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,881 shares of the industrial products company’s stock, valued at approximately $1,774,000.

A number of other large investors also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its position in Packaging Co. of America by 3.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 17,396 shares of the industrial products company’s stock worth $3,916,000 after acquiring an additional 624 shares during the last quarter. Farther Finance Advisors LLC grew its position in Packaging Co. of America by 19.0% during the 4th quarter. Farther Finance Advisors LLC now owns 703 shares of the industrial products company’s stock worth $158,000 after acquiring an additional 112 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Packaging Co. of America by 1.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,637 shares of the industrial products company’s stock worth $819,000 after acquiring an additional 66 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Packaging Co. of America by 28.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,879 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 421 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in Packaging Co. of America by 18.3% during the 4th quarter. HighTower Advisors LLC now owns 263,219 shares of the industrial products company’s stock worth $59,258,000 after acquiring an additional 40,668 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on PKG shares. Citigroup raised their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Trading Down 0.6 %

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. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $215.91 and a 200-day moving average of $222.69. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last released 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 net margin of 9.60% and a return on equity of 19.67%. Equities research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

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

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.