5,928 Shares in Packaging Co. of America (NYSE:PKG) Acquired by Dakota Wealth Management

Dakota Wealth Management purchased a new position in Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,928 shares of the industrial products company’s stock, valued at approximately $1,335,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America in the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC grew its holdings 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 acquiring an additional 98 shares during the period. Larson Financial Group LLC grew its holdings 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 acquiring an additional 115 shares during the period. Assetmark Inc. grew its holdings 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 worth $58,000 after acquiring an additional 83 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Packaging Co. of America in the 3rd quarter worth approximately $64,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Trading Down 0.3 %

Shares of Packaging Co. of America stock opened at $239.11 on Friday. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The firm has a market cap of $21.47 billion, a PE ratio of 27.87, a P/E/G ratio of 2.38 and a beta of 0.79. The business’s fifty day moving average is $235.76 and its two-hundred day moving average is $218.31. 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 (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 EPS. Analysts anticipate that Packaging Co. of America will post 9.08 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 58.28%.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,300 shares of company stock valued at $8,064,152. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PKG. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup increased their target price 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. Wells Fargo & Company increased their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Truist Financial increased their target price on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $238.67.

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.