Packaging Co. of America (NYSE:PKG) Shares Acquired by LMG Wealth Partners LLC

LMG Wealth Partners LLC raised its holdings in shares of Packaging Co. of America (NYSE:PKG) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,618 shares of the industrial products company’s stock after buying an additional 138 shares during the period. LMG Wealth Partners LLC’s holdings in Packaging Co. of America were worth $2,165,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new stake in shares of Packaging Co. of America during the 3rd quarter worth $78,000. Creative Planning lifted its holdings in shares of Packaging Co. of America by 3.3% during the third quarter. Creative Planning now owns 16,842 shares of the industrial products company’s stock valued at $3,628,000 after purchasing an additional 534 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Packaging Co. of America by 23.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,906 shares of the industrial products company’s stock valued at $17,427,000 after purchasing an additional 15,536 shares during the period. Eastern Bank purchased a new position in Packaging Co. of America in the 3rd quarter worth about $108,000. Finally, Axecap Investments LLC acquired a new stake in Packaging Co. of America during the 3rd quarter worth about $4,098,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on PKG shares. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial restated a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Citigroup lifted 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, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Up 0.0 %

Packaging Co. of America stock opened at $212.24 on Thursday. Packaging Co. of America has a twelve month low of $167.60 and a twelve month 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 firm has a market cap of $19.06 billion, a PE ratio of 23.77, a P/E/G ratio of 2.44 and a beta of 0.77. The firm’s 50 day moving average price is $225.28 and its two-hundred day moving average price is $221.79.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results 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, research analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.36%. Packaging Co. of America’s dividend payout ratio is 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.