Packaging Co. of America (NYSE:PKG) Shares Sold by Mcdonald Partners LLC

Mcdonald Partners LLC decreased its position in Packaging Co. of America (NYSE:PKG) by 5.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,178 shares of the industrial products company’s stock after selling 185 shares during the quarter. Mcdonald Partners LLC’s holdings in Packaging Co. of America were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its stake in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. Larson Financial Group LLC raised its stake in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America in the 4th quarter valued at about $48,000. Assetmark Inc. raised its stake in Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Packaging Co. of America in the 3rd quarter valued at about $64,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analysts Set New Price Targets

PKG has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company dropped their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Packaging Co. of America Stock Up 0.2 %

PKG opened at $212.54 on Tuesday. The firm has a 50 day moving average price of $226.33 and a 200 day moving average price of $221.75. The company has a market cap of $19.09 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 1 year low of $165.20 and a 1 year high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Sell-side analysts expect that Packaging Co. of America will post 10.6 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

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.