DAVENPORT & Co LLC Has $548,000 Stake in Packaging Co. of America (NYSE:PKG)

DAVENPORT & Co LLC decreased its position in Packaging Co. of America (NYSE:PKG) by 12.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,433 shares of the industrial products company’s stock after selling 335 shares during the quarter. DAVENPORT & Co LLC’s holdings in Packaging Co. of America were worth $548,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC raised its stake in shares of Packaging Co. of America by 150.8% in the 4th 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 during the period. Assetmark Inc. raised its stake in shares of Packaging Co. of America by 44.6% in the 3rd 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 period. Brooklyn Investment Group acquired a new stake in shares of Packaging Co. of America in the 3rd quarter valued at about $64,000. Finally, Allworth Financial LP increased its position in shares of Packaging Co. of America by 65.1% in the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $210.03 on Friday. The business’s 50 day moving average price is $230.33 and its two-hundred day moving average price is $220.85. The company has a market cap of $18.86 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $163.68 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced 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, analysts predict that Packaging Co. of America will post 11.15 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Citigroup lifted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. 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. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Insider Transactions at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now owns 8,881 shares in the company, valued at $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,800 shares of company stock worth $5,056,402 over the last quarter. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Company 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.