Kingswood Wealth Advisors LLC Invests $250,000 in Packaging Co. of America (NYSE:PKG)

Kingswood Wealth Advisors LLC acquired a new position in Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,109 shares of the industrial products company’s stock, valued at approximately $250,000.

Several other large investors also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America in the 3rd quarter valued at about $32,000. Larson Financial Group LLC increased its position in shares of 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 worth $35,000 after purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC raised 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 purchasing an additional 98 shares in the last quarter. Assetmark Inc. lifted its position in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Packaging Co. of America in the 3rd quarter worth approximately $64,000. Institutional investors own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In related news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This represents a 54.18 % 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 Packaging Co. of America stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock worth $8,064,152 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup boosted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $212.49 on Friday. The stock has a market capitalization of $19.08 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 2.12 and a beta of 0.79. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The business’s 50 day simple moving average is $234.01 and its two-hundred day simple moving average is $220.40.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts forecast that Packaging Co. of America will post 11.31 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s payout ratio is 55.99%.

About Packaging Co. of America

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.