Packaging Co. of America (NYSE:PKG) Shares Sold by Rise Advisors LLC

Rise Advisors LLC decreased its holdings in Packaging Co. of America (NYSE:PKG) by 3.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,699 shares of the industrial products company’s stock after selling 69 shares during the period. Rise Advisors LLC’s holdings in Packaging Co. of America were worth $383,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. TD Asset Management Inc increased its holdings in shares of Packaging Co. of America by 5.6% in the second quarter. TD Asset Management Inc now owns 52,422 shares of the industrial products company’s stock valued at $9,570,000 after purchasing an additional 2,768 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Packaging Co. of America by 22.3% in the 2nd quarter. National Bank of Canada FI now owns 26,605 shares of the industrial products company’s stock worth $4,789,000 after acquiring an additional 4,845 shares during the last quarter. Candriam S.C.A. boosted its position in shares of Packaging Co. of America by 18.7% during the 2nd quarter. Candriam S.C.A. now owns 7,292 shares of the industrial products company’s stock valued at $1,331,000 after acquiring an additional 1,150 shares during the last quarter. Savant Capital LLC grew its holdings in shares of Packaging Co. of America by 97.7% in the second quarter. Savant Capital LLC now owns 8,027 shares of the industrial products company’s stock valued at $1,465,000 after purchasing an additional 3,967 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in Packaging Co. of America during the second quarter worth about $50,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,300 shares of company stock valued at $8,064,152. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Down 0.3 %

Shares of NYSE PKG traded down $0.66 during mid-day trading on Tuesday, hitting $226.42. The company had a trading volume of 375,615 shares, compared to its average volume of 635,416. The company has a market capitalization of $20.33 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. The business’s 50-day simple moving average is $236.05 and its 200 day simple moving average is $214.12. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the company earned $2.05 EPS. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

About Packaging Co. of America

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.