Wedmont Private Capital Purchases 93 Shares of Packaging Co. of America (NYSE:PKG)

Wedmont Private Capital increased its position in Packaging Co. of America (NYSE:PKG) by 6.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,515 shares of the industrial products company’s stock after acquiring an additional 93 shares during the quarter. Wedmont Private Capital’s holdings in Packaging Co. of America were worth $288,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PKG. Neo Ivy Capital Management bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $28,000. First Horizon Advisors Inc. boosted its position in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the period. Gables Capital Management Inc. bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $31,000. Anchor Investment Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $37,000. Finally, Fortis Group Advisors LLC bought a new position in shares of Packaging Co. of America in the third quarter valued at approximately $46,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Trading Down 1.1 %

Shares of PKG opened at $183.33 on Friday. The firm has a market cap of $16.46 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 5.02 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. Packaging Co. of America has a fifty-two week low of $127.69 and a fifty-two week high of $191.27. The firm has a 50 day moving average price of $180.46 and a 200-day moving average price of $175.66.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 EPS. As a group, equities research analysts forecast that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.73%. Packaging Co. of America’s payout ratio is 62.50%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland acquired 300 shares of the stock in a transaction dated Wednesday, May 15th. The stock was purchased at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the acquisition, the director now owns 916 shares in the company, valued at approximately $166,766.96. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Bank of America lifted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Truist Financial lifted their target price on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Citigroup dropped their target price on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $176.29.

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.