Ritholtz Wealth Management Acquires 95 Shares of Packaging Co. of America (NYSE:PKG)

Ritholtz Wealth Management raised its stake in shares of Packaging Co. of America (NYSE:PKG) by 1.9% in the third quarter, Holdings Channel.com reports. The firm owned 4,984 shares of the industrial products company’s stock after buying an additional 95 shares during the period. Ritholtz Wealth Management’s holdings in Packaging Co. of America were worth $1,074,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atwater Malick LLC boosted its position in shares of Packaging Co. of America by 13.8% during the third quarter. Atwater Malick LLC now owns 12,973 shares of the industrial products company’s stock valued at $2,794,000 after buying an additional 1,573 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Packaging Co. of America during the 3rd quarter valued at $209,000. Fiduciary Financial Group LLC boosted its holdings in Packaging Co. of America by 3.7% during the 3rd quarter. Fiduciary Financial Group LLC now owns 2,012 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 72 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Packaging Co. of America by 337.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,312 shares of the industrial products company’s stock worth $283,000 after acquiring an additional 1,012 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Packaging Co. of America by 82.8% in the third quarter. CWM LLC now owns 9,474 shares of the industrial products company’s stock valued at $2,041,000 after purchasing an additional 4,290 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Up 0.9 %

Shares of NYSE PKG opened at $219.98 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The stock has a market capitalization of $19.75 billion, a PE ratio of 27.50, a P/E/G ratio of 4.25 and a beta of 0.77. Packaging Co. of America has a one year low of $143.82 and a one year high of $220.09. The business’s fifty day moving average price is $207.13 and its 200-day moving average price is $192.12.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 earnings per share. On average, equities research analysts anticipate that Packaging Co. of America will post 8.73 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.27%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insider Transactions at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PKG shares. Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Truist Financial upped their target price on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Bank of America lifted their price target on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Citigroup lifted their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $199.50.

About Packaging Co. of America

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.