1,337 Shares in Packaging Co. of America (NYSE:PKG) Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, Holdings Channel.com reports. The firm acquired 1,337 shares of the industrial products company’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Packaging Co. of America by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,710 shares of the industrial products company’s stock valued at $1,984,000 after buying an additional 787 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Packaging Co. of America by 120.3% in the first quarter. Raymond James Trust N.A. now owns 3,792 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 2,071 shares in the last quarter. Cibc World Market Inc. acquired a new stake in shares of Packaging Co. of America in the first quarter worth approximately $693,000. Sei Investments Co. increased its position in shares of Packaging Co. of America by 3.0% during the first quarter. Sei Investments Co. now owns 162,403 shares of the industrial products company’s stock worth $25,356,000 after purchasing an additional 4,701 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Packaging Co. of America by 58.6% during the first quarter. Canada Pension Plan Investment Board now owns 24,748 shares of the industrial products company’s stock worth $3,863,000 after purchasing an additional 9,145 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $178.51 on Thursday. The firm has a 50 day simple moving average of $180.76 and a 200-day simple moving average of $167.22. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 4.32 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.30. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the business posted $2.35 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts expect that Packaging Co. of America will post 8.31 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s payout ratio is 58.96%.

Insider Activity 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 dated 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 directly owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction dated Thursday, February 22nd. The stock was 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 of the company’s stock, valued at approximately $31,967,034. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 46,454 shares in the company, 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. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent research reports. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a research note on Friday, April 12th. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Truist Financial increased their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Citigroup boosted their target price on Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, Seaport Res Ptn cut Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Hold” and an average target price of $171.29.

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.