Packaging Co. of America (NYSE:PKG) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its holdings in Packaging Co. of America (NYSE:PKG) by 17.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,399 shares of the industrial products company’s stock after acquiring an additional 2,433 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Packaging Co. of America were worth $2,672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of PKG. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Packaging Co. of America in the 3rd quarter valued at about $25,000. Clear Street Markets LLC lifted its stake in Packaging Co. of America by 94.6% during the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock valued at $25,000 after buying an additional 88 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Packaging Co. of America during the fourth quarter valued at about $28,000. Money Concepts Capital Corp lifted its stake in Packaging Co. of America by 60.0% during the fourth quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company’s stock valued at $34,000 after buying an additional 99 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in Packaging Co. of America during the fourth quarter valued at about $37,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the transaction, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a filing 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 that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,041 shares of company stock worth $6,799,177. Insiders own 1.70% of the company’s stock.

Packaging Co. of America Trading Up 1.6 %

NYSE:PKG opened at $190.71 on Tuesday. The stock’s 50 day moving average price is $178.08 and its 200 day moving average price is $165.75. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $190.74. The company has a market capitalization of $17.12 billion, a P/E ratio of 22.49, a P/E/G ratio of 4.59 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.30. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the company posted $2.35 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. On average, research analysts forecast that Packaging Co. of America will post 8.18 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be issued a $1.25 dividend. The ex-dividend date is Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.62%. Packaging Co. of America’s dividend payout ratio is currently 58.96%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. 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 stock from $172.00 to $202.00 in a research report on Monday, March 4th. Citigroup increased their price target on shares of Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, Truist Financial increased their price target on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $169.50.

Packaging Co. of America Company Profile

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.