Tidal Investments LLC Lowers Holdings in Packaging Co. of America (NYSE:PKG)

Tidal Investments LLC trimmed its holdings in Packaging Co. of America (NYSE:PKG) by 32.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,390 shares of the industrial products company’s stock after selling 4,908 shares during the quarter. Tidal Investments LLC’s holdings in Packaging Co. of America were worth $2,238,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Raymond James & Associates grew its stake in Packaging Co. of America by 7.8% during the second quarter. Raymond James & Associates now owns 195,171 shares of the industrial products company’s stock valued at $35,630,000 after acquiring an additional 14,112 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Packaging Co. of America by 8.0% during the second quarter. Nisa Investment Advisors LLC now owns 16,113 shares of the industrial products company’s stock valued at $2,962,000 after purchasing an additional 1,200 shares in the last quarter. Benchmark Financial Wealth Advisors LLC increased its holdings in shares of Packaging Co. of America by 30.5% in the second quarter. Benchmark Financial Wealth Advisors LLC now owns 1,672 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 391 shares during the last quarter. NewSquare Capital LLC lifted its position in shares of Packaging Co. of America by 4.2% in the second quarter. NewSquare Capital LLC now owns 53,636 shares of the industrial products company’s stock worth $9,665,000 after buying an additional 2,186 shares in the last quarter. Finally, American National Bank lifted its position in shares of Packaging Co. of America by 116.4% in the second quarter. American National Bank now owns 606 shares of the industrial products company’s stock worth $111,000 after buying an additional 326 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PKG shares. Truist Financial reaffirmed a “buy” rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup increased their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price objective 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the business’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 completion of the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock worth $8,064,152 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $237.09 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock’s fifty day moving average is $234.09 and its 200 day moving average is $209.54. The firm has a market capitalization of $21.29 billion, a PE ratio of 27.63, a PEG ratio of 3.34 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82.

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

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be paid 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 2.11%. Packaging Co. of America’s payout ratio is 58.28%.

Packaging Co. of America 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.