Wealth Enhancement Advisory Services LLC Purchases 63 Shares of Packaging Co. of America (NYSE:PKG)

Wealth Enhancement Advisory Services LLC boosted its position in Packaging Co. of America (NYSE:PKG) by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,564 shares of the industrial products company’s stock after purchasing an additional 63 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Packaging Co. of America were worth $5,722,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America during the 3rd quarter valued at approximately $32,000. Larson Financial Group LLC grew its position in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Fortitude Family Office LLC grew its position in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the period. Assetmark Inc. grew its position in shares of Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Packaging Co. of America during the 3rd quarter valued at approximately $64,000. 89.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PKG. Citigroup upped their price target 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. Truist Financial upped 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, January 6th. Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating 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 note on Tuesday, December 24th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. 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 data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Insider Transactions at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction on 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 transaction, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders 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 Up 1.0 %

Shares of NYSE:PKG opened at $230.37 on Tuesday. The firm has a fifty day moving average price of $235.97 and a two-hundred day moving average price of $215.60. 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 has a one year low of $159.57 and a one year high of $250.82. The company has a market cap of $20.69 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 3.34 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating 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 the consensus estimate of $2.09 billion. During the same period last year, the firm earned $2.05 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Packaging Co. of America Company Profile

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.