Wealth Enhancement Advisory Services LLC Has $6.62 Million Stock Holdings in Packaging Corporation of America $PKG

Wealth Enhancement Advisory Services LLC raised its position in Packaging Corporation of America (NYSE:PKG) by 13.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 31,463 shares of the industrial products company’s stock after buying an additional 3,769 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Packaging Corporation of America were worth $6,624,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. World Investment Advisors lifted its stake in shares of Packaging Corporation of America by 4.1% during the third quarter. World Investment Advisors now owns 1,279 shares of the industrial products company’s stock valued at $279,000 after acquiring an additional 50 shares during the period. Advyzon Investment Management LLC increased its position in Packaging Corporation of America by 3.3% in the second quarter. Advyzon Investment Management LLC now owns 1,608 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 52 shares during the period. Eastern Bank raised its holdings in Packaging Corporation of America by 11.0% during the 3rd quarter. Eastern Bank now owns 555 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 55 shares during the last quarter. Forza Wealth Management LLC lifted its position in Packaging Corporation of America by 2.8% during the 2nd quarter. Forza Wealth Management LLC now owns 2,076 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 56 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Packaging Corporation of America by 40.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 57 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wells Fargo & Company raised shares of Packaging Corporation of America from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $222.00 to $233.00 in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Packaging Corporation of America from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. UBS Group increased their price target on Packaging Corporation of America from $230.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Packaging Corporation of America in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Packaging Corporation of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.17.

Packaging Corporation of America Stock Up 3.1%

Shares of NYSE:PKG opened at $225.50 on Monday. The company has a 50 day moving average price of $206.77 and a two-hundred day moving average price of $206.43. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 3.16. The company has a market capitalization of $20.29 billion, a PE ratio of 22.80, a PEG ratio of 1.69 and a beta of 0.88. Packaging Corporation of America has a 52 week low of $172.71 and a 52 week high of $241.96.

Packaging Corporation of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, December 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, December 15th. Packaging Corporation of America’s dividend payout ratio (DPR) is presently 50.56%.

Packaging Corporation of America 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.