1,986 Shares in Packaging Co. of America (NYSE:PKG) Acquired by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC purchased a new stake in shares of Packaging Co. of America (NYSE:PKG) during the first quarter, Holdings Channel.com reports. The firm purchased 1,986 shares of the industrial products company’s stock, valued at approximately $377,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CENTRAL TRUST Co grew its stake in Packaging Co. of America by 1.8% in the 4th quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock valued at $559,000 after acquiring an additional 62 shares during the period. Scotia Capital Inc. increased its stake in shares of Packaging Co. of America by 1.2% during the third quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 63 shares in the last quarter. Essex Savings Bank boosted its holdings in Packaging Co. of America by 4.0% in the 4th quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock worth $268,000 after buying an additional 63 shares during the last quarter. Mather Group LLC. increased its stake in Packaging Co. of America by 3.0% during the 4th quarter. Mather Group LLC. now owns 2,263 shares of the industrial products company’s stock worth $369,000 after buying an additional 66 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Packaging Co. of America by 60.5% during 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 last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In related news, Director Karen E. Gowland bought 300 shares of the stock in a transaction on Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the purchase, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PKG. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $187.00 to $191.00 in a research note on Wednesday, April 24th. Bank of America upped their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Citigroup decreased their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Truist Financial upped their price objective on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.67.

Packaging Co. of America Price Performance

Shares of PKG stock opened at $182.56 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The company has a market capitalization of $16.39 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.94 and a beta of 0.78. The firm’s 50-day moving average is $181.12 and its two-hundred day moving average is $176.51. Packaging Co. of America has a 12 month low of $127.69 and a 12 month high of $191.39.

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

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s payout ratio is 62.50%.

Packaging Co. of America Company 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.