Wedmont Private Capital Has $421,000 Position in Packaging Co. of America (NYSE:PKG)

Wedmont Private Capital raised its stake in Packaging Co. of America (NYSE:PKG) by 12.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,847 shares of the industrial products company’s stock after buying an additional 204 shares during the quarter. Wedmont Private Capital’s holdings in Packaging Co. of America were worth $421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America during the 3rd quarter worth about $32,000. Larson Financial Group LLC raised its position in Packaging Co. of America by 234.7% during 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 in the last quarter. Fortitude Family Office LLC lifted its stake in Packaging Co. of America by 150.8% in the fourth 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 last quarter. Assetmark Inc. grew its position in Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Packaging Co. of America during the 3rd quarter worth $64,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock worth $8,064,152 over the last three months. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $235.49 on Thursday. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The company has a market cap of $21.15 billion, a P/E ratio of 27.45, a P/E/G ratio of 3.34 and a beta of 0.79. The business’s 50 day moving average is $235.96 and its two-hundred day moving average is $215.95.

Packaging Co. of America (NYSE:PKG) last released its 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. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. On average, equities analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PKG shares. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Truist Financial increased their price objective on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, Citigroup increased their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.67.

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.