HB Wealth Management LLC Has $1.45 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

HB Wealth Management LLC lessened its holdings in Packaging Co. of America (NYSE:PKGFree Report) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,920 shares of the industrial products company’s stock after selling 143 shares during the period. HB Wealth Management LLC’s holdings in Packaging Co. of America were worth $1,453,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. GPS Wealth Strategies Group LLC raised its position in Packaging Co. of America by 0.4% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,793 shares of the industrial products company’s stock worth $2,736,000 after purchasing an additional 72 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Packaging Co. of America by 11.1% during the fourth quarter. Brookstone Capital Management now owns 5,901 shares of the industrial products company’s stock worth $961,000 after buying an additional 591 shares in the last quarter. 1834 Investment Advisors Co. increased its holdings in shares of Packaging Co. of America by 185.0% during the fourth quarter. 1834 Investment Advisors Co. now owns 29,410 shares of the industrial products company’s stock worth $4,791,000 after buying an additional 19,090 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $16,338,000. Finally, Raymond James Trust N.A. increased its holdings in shares of Packaging Co. of America by 10.1% during the fourth quarter. Raymond James Trust N.A. now owns 5,649 shares of the industrial products company’s stock worth $920,000 after buying an additional 520 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

PKG opened at $187.33 on Tuesday. Packaging Co. of America has a one year low of $122.20 and a one year high of $188.61. The stock has a market capitalization of $16.79 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 4.51 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The company’s 50 day simple moving average is $173.70 and its 200-day simple moving average is $162.96.

Packaging Co. of America (NYSE:PKGGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the firm earned $2.35 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts anticipate that Packaging Co. of America will post 8.18 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.67%. Packaging Co. of America’s payout ratio is presently 58.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PKG. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $147.00 to $173.00 and gave the stock an “equal weight” rating in a report on Thursday, November 30th. Truist Financial raised their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $165.33.

Read Our Latest Stock Analysis on PKG

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,041 shares of company stock valued at $6,799,177. 1.80% of the stock is currently owned by insiders.

About Packaging Co. of America

(Free Report)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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