Blue Trust Inc. Buys 370 Shares of Packaging Co. of America (NYSE:PKG)

Blue Trust Inc. increased its stake in shares of Packaging Co. of America (NYSE:PKGFree Report) by 17.9% during the fourth quarter, HoldingsChannel reports. The fund owned 2,433 shares of the industrial products company’s stock after acquiring an additional 370 shares during the quarter. Blue Trust Inc.’s holdings in Packaging Co. of America were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in Packaging Co. of America during the third quarter worth $25,000. Clear Street Markets LLC increased its position in Packaging Co. of America by 94.6% during the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 88 shares during the period. ICA Group Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter worth $28,000. Money Concepts Capital Corp increased its position in Packaging Co. of America by 60.0% during the fourth quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 99 shares during the period. Finally, Anchor Investment Management LLC bought a new position in Packaging Co. of America during the fourth quarter worth $37,000. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PKG. Truist Financial lifted their price target on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, 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 note on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Hold” and an average target price of $165.33.

View Our Latest Report on PKG

Packaging Co. of America Stock Up 0.4 %

Shares of NYSE:PKG opened at $189.78 on Friday. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $190.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. The company’s fifty day moving average is $175.65 and its 200-day moving average is $164.03. The company has a market capitalization of $17.01 billion, a PE ratio of 22.38, a P/E/G ratio of 4.64 and a beta of 0.77.

Packaging Co. of America (NYSE:PKGGet Free Report) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.83 by $0.30. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the company earned $2.35 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts predict that Packaging Co. of America will post 8.18 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.63%. Packaging Co. of America’s dividend payout ratio is presently 58.96%.

Insider Activity

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the sale, the vice president now owns 183,930 shares in the company, valued at approximately $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the transaction, the vice president now owns 183,930 shares in the company, valued at approximately $31,967,034. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,041 shares of company stock worth $6,799,177. Corporate insiders own 1.60% of the company’s stock.

About Packaging Co. of America

(Free Report)

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.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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