Naples Global Advisors LLC Decreases Stock Holdings in Packaging Co. of America (NYSE:PKG)

Naples Global Advisors LLC lowered its stake in Packaging Co. of America (NYSE:PKG) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,615 shares of the industrial products company’s stock after selling 509 shares during the quarter. Packaging Co. of America accounts for 0.9% of Naples Global Advisors LLC’s portfolio, making the stock its 14th largest position. Naples Global Advisors LLC’s holdings in Packaging Co. of America were worth $9,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its position in Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after acquiring an additional 2,946 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Packaging Co. of America by 24.2% in the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after purchasing an additional 473 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Packaging Co. of America by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock worth $99,194,000 after purchasing an additional 35,614 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Packaging Co. of America by 227.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock worth $6,945,000 after buying an additional 22,397 shares during the last quarter. Finally, Citigroup Inc. grew its position in Packaging Co. of America by 30.7% during the third quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock valued at $24,772,000 after buying an additional 27,018 shares during the period. Institutional investors own 89.78% of the company’s stock.

Insider Activity

In related news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction 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 approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. 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 stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup raised their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company lowered their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, Truist Financial reaffirmed a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Stock Down 1.8 %

PKG opened at $204.50 on Thursday. Packaging Co. of America has a fifty-two week low of $163.68 and a fifty-two week high of $250.82. 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 stock has a market cap of $18.37 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. The firm’s fifty day moving average is $228.12 and its 200 day moving average is $221.30.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, sell-side analysts forecast that Packaging Co. of America will post 10.6 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

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.