Packaging Co. of America (NYSE:PKG) Holdings Lowered by Capital Investment Advisors LLC

Capital Investment Advisors LLC cut its stake in Packaging Co. of America (NYSE:PKGFree Report) by 5.6% in the 4th quarter, HoldingsChannel reports. The fund owned 3,969 shares of the industrial products company’s stock after selling 234 shares during the period. Capital Investment Advisors LLC’s holdings in Packaging Co. of America were worth $894,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp lifted its position in Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after purchasing an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Packaging Co. of America by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock valued at $632,654,000 after buying an additional 98,223 shares during the period. Geode Capital Management LLC boosted its stake in Packaging Co. of America by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock valued at $501,896,000 after buying an additional 12,936 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Packaging Co. of America by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after acquiring an additional 86,005 shares during the period. Finally, FMR LLC raised its position in Packaging Co. of America by 3.4% in the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock worth $231,846,000 after acquiring an additional 35,827 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. The trade was a 54.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 in the last quarter. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PKG shares. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Truist Financial increased their price objective on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Citigroup upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $238.67.

Read Our Latest Research Report on PKG

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $232.35 on Wednesday. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a market cap of $20.87 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. The business has a fifty day simple moving average of $235.97 and a 200-day simple moving average of $215.60.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.05 EPS. On average, sell-side analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be given a $1.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.15%. Packaging Co. of America’s payout ratio is 58.28%.

About Packaging Co. of America

(Free Report)

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.

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

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