Kingswood Wealth Advisors LLC purchased a new position in Packaging Co. of America (NYSE:PKG – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,109 shares of the industrial products company’s stock, valued at approximately $250,000.
Other large investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in Packaging Co. of America in the third quarter worth about $32,000. Fortitude Family Office LLC boosted its position 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 worth $37,000 after purchasing an additional 98 shares in the last quarter. Larson Financial Group LLC grew 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 worth $35,000 after buying an additional 115 shares during the last quarter. Assetmark Inc. increased its position in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after buying an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Packaging Co. of America during the third quarter valued at $64,000. 89.78% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Truist Financial reiterated 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 note on Thursday. Wells Fargo & Company reduced their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.
Get Our Latest Stock Analysis on PKG
Insiders Place Their Bets
In other news, SVP Donald R. Shirley sold 8,000 shares of the business’s 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 completion of the sale, the senior vice president now owns 15,725 shares of the company’s stock, valued at $3,777,145. The trade was a 33.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,300 shares of company stock valued at $8,064,152. Insiders own 1.60% of the company’s stock.
Packaging Co. of America Stock Down 0.8 %
PKG opened at $212.49 on Friday. Packaging Co. of America has a twelve month low of $159.57 and a twelve 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 firm has a 50 day moving average price of $234.01 and a 200-day moving average price of $220.40. The stock has a market capitalization of $19.08 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 2.12 and a beta of 0.79.
Packaging Co. of America (NYSE:PKG – Get Free Report) last announced its 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 net margin of 9.60% and a return on equity of 19.67%. Equities research analysts forecast that Packaging Co. of America will post 11.31 earnings per share for the current year.
Packaging Co. of America Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.35%. Packaging Co. of America’s payout ratio is 55.99%.
Packaging Co. of America Profile
(Free Report)
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.
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