Packaging Co. of America (NYSE:PKG) Position Increased by Greenleaf Trust

Greenleaf Trust lifted its position in Packaging Co. of America (NYSE:PKG) by 5.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,431 shares of the industrial products company’s stock after acquiring an additional 125 shares during the quarter. Greenleaf Trust’s holdings in Packaging Co. of America were worth $396,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PKG. CWM LLC lifted its position in shares of Packaging Co. of America by 6.3% in the 3rd quarter. CWM LLC now owns 1,807 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 107 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Packaging Co. of America by 249.9% in the 3rd quarter. AE Wealth Management LLC now owns 9,712 shares of the industrial products company’s stock valued at $1,491,000 after acquiring an additional 6,936 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Packaging Co. of America by 42.7% in the 3rd quarter. IFP Advisors Inc now owns 1,256 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 376 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Packaging Co. of America by 6.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,863 shares of the industrial products company’s stock valued at $286,000 after acquiring an additional 106 shares in the last quarter. Finally, Avior Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 3rd quarter valued at approximately $119,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 4.7 %

Packaging Co. of America stock opened at $170.88 on Wednesday. The company has a market capitalization of $15.34 billion, a P/E ratio of 21.36, a P/E/G ratio of 4.35 and a beta of 0.78. The firm’s fifty day simple moving average is $181.56 and its 200-day simple moving average is $168.02. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27.

Packaging Co. of America (NYSE:PKG) last released its quarterly 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. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. Packaging Co. of America’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 EPS. Sell-side analysts forecast that Packaging Co. of America will post 8.24 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.93%. Packaging Co. of America’s payout ratio is presently 62.50%.

Analysts Set New Price Targets

Several brokerages recently commented on PKG. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. 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 research report on Thursday, January 4th. 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 research report on Monday, March 4th. Citigroup increased their target price 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. Finally, Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $171.29.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 10,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Robert P. Mundy sold 10,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction 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 completion of the transaction, 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. In the last three months, insiders have sold 38,041 shares of company stock worth $6,799,177. 1.70% of the stock is owned by insiders.

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.