Kingsview Wealth Management LLC Increases Stock Position in Packaging Co. of America (NYSE:PKG)

Kingsview Wealth Management LLC boosted its holdings in Packaging Co. of America (NYSE:PKG) by 42.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,350 shares of the industrial products company’s stock after purchasing an additional 13,606 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Packaging Co. of America were worth $7,388,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PKG. Louisiana State Employees Retirement System purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $880,000. International Assets Investment Management LLC boosted its holdings in Packaging Co. of America by 19,323.7% in the 4th quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock valued at $4,936,000 after purchasing an additional 30,145 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $16,338,000. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Packaging Co. of America by 60.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,020 shares of the industrial products company’s stock worth $771,000 after buying an additional 1,890 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Packaging Co. of America by 90.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company’s stock valued at $2,188,000 after buying an additional 6,368 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Karen E. Gowland acquired 300 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the acquisition, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,041 shares of company stock worth $6,799,177. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup dropped their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $172.00 to $202.00 in a report on Monday, March 4th. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a report on Friday, April 12th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $173.57.

Packaging Co. of America Price Performance

Shares of PKG stock traded up $0.73 during trading hours on Friday, hitting $183.13. The company’s stock had a trading volume of 493,750 shares, compared to its average volume of 694,110. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $182.15 and a 200-day moving average of $171.14. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 22.89, a P/E/G ratio of 4.41 and a beta of 0.80.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. Packaging Co. of America’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Packaging Co. of America will post 8.27 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, June 14th. Packaging Co. of America’s payout ratio is 62.50%.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.