CreativeOne Wealth LLC Trims Stock Holdings in Packaging Co. of America (NYSE:PKG)

CreativeOne Wealth LLC cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 51.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,730 shares of the industrial products company’s stock after selling 1,837 shares during the quarter. CreativeOne Wealth LLC’s holdings in Packaging Co. of America were worth $281,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented 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 research note on Thursday, April 25th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Finally, Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. Four 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, the company has an average rating of “Moderate Buy” and a consensus price target of $173.57.

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 the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karen E. Gowland purchased 300 shares of the stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the transaction, the director now owns 916 shares of the company’s stock, valued at approximately $166,766.96. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Up 2.0 %

PKG traded up $3.53 on Friday, reaching $183.77. 394,339 shares of the company traded hands, compared to its average volume of 519,432. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 7.70 and a beta of 0.80. The stock’s 50 day moving average price is $181.83 and its 200-day moving average price is $172.05.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $2.20 earnings per share. Packaging Co. of America’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Packaging Co. of America will post 8.27 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, June 14th. Packaging Co. of America’s payout ratio is 62.50%.

About Packaging Co. of America

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.