SVB Wealth LLC Purchases Shares of 1,597 Packaging Co. of America (NYSE:PKG)

SVB Wealth LLC purchased a new stake in shares of Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,597 shares of the industrial products company’s stock, valued at approximately $260,000.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in Packaging Co. of America by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company’s stock valued at $335,772,000 after buying an additional 11,536 shares during the period. Ameriprise Financial Inc. boosted its position in Packaging Co. of America by 4.6% during the third quarter. Ameriprise Financial Inc. now owns 1,337,507 shares of the industrial products company’s stock valued at $205,389,000 after buying an additional 58,444 shares during the period. Northern Trust Corp boosted its holdings in shares of Packaging Co. of America by 12.8% during the third quarter. Northern Trust Corp now owns 1,154,823 shares of the industrial products company’s stock worth $177,323,000 after purchasing an additional 131,058 shares during the period. Boston Partners purchased a new stake in shares of Packaging Co. of America during the third quarter worth about $123,821,000. Finally, Atlas FRM LLC boosted its holdings in shares of Packaging Co. of America by 17.9% during the third quarter. Atlas FRM LLC now owns 460,000 shares of the industrial products company’s stock worth $70,633,000 after purchasing an additional 70,000 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of 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. BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a report on Friday, April 12th. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $172.00 to $202.00 in a report on Monday, March 4th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday. Finally, Truist Financial increased their target price 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. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $171.29.

Packaging Co. of America Stock Performance

Shares of PKG opened at $179.29 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27. The company has a 50-day simple moving average of $181.44 and a two-hundred day simple moving average of $167.88. The firm has a market capitalization of $16.09 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 4.33 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts anticipate that Packaging Co. of America will post 8.31 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio is 58.96%.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the sale, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,041 shares of company stock valued at $6,799,177. Corporate insiders own 1.70% of the company’s stock.

About Packaging Co. of America

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.