Aprio Wealth Management LLC Has $230,000 Position in Packaging Co. of America (NYSE:PKG)

Aprio Wealth Management LLC increased its stake in Packaging Co. of America (NYSE:PKG) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,024 shares of the industrial products company’s stock after purchasing an additional 78 shares during the period. Aprio Wealth Management LLC’s holdings in Packaging Co. of America were worth $230,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America during the 3rd quarter worth approximately $32,000. Larson Financial Group LLC boosted its stake in Packaging Co. of America by 234.7% in the third 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 last quarter. Fortitude Family Office LLC grew its holdings in 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 worth $37,000 after acquiring an additional 98 shares during the period. Assetmark Inc. raised 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 last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Packaging Co. of America in the 3rd quarter valued at $64,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of analyst reports. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company upped their price target on 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. Truist Financial increased 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 report on Monday, January 6th. Citigroup boosted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.67.

Insider Buying and Selling 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 that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Price Performance

Shares of PKG opened at $232.35 on Wednesday. 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 firm has a market capitalization of $20.87 billion, a PE ratio of 27.08, a P/E/G ratio of 3.34 and a beta of 0.79. The stock has a 50 day simple moving average of $235.97 and a 200 day simple moving average of $215.60. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share 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 company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. Sell-side analysts predict that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared 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. This represents a $5.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s dividend payout ratio is 58.28%.

Packaging Co. of America 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.