Xponance Inc. Has $1.88 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Xponance Inc. lessened its holdings in shares of Packaging Co. of America (NYSE:PKG) by 6.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,519 shares of the industrial products company’s stock after selling 848 shares during the quarter. Xponance Inc.’s holdings in Packaging Co. of America were worth $1,877,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PKG. CWM LLC lifted its position in shares of Packaging Co. of America by 6.3% in the 3rd quarter. CWM LLC now owns 1,807 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 107 shares during the period. AE Wealth Management LLC raised its holdings in shares of Packaging Co. of America by 249.9% in the 3rd quarter. AE Wealth Management LLC now owns 9,712 shares of the industrial products company’s stock worth $1,491,000 after buying an additional 6,936 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Packaging Co. of America by 42.7% in the 3rd quarter. IFP Advisors Inc now owns 1,256 shares of the industrial products company’s stock worth $193,000 after buying an additional 376 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Packaging Co. of America by 6.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,863 shares of the industrial products company’s stock worth $286,000 after buying an additional 106 shares in the last quarter. Finally, Avior Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 3rd quarter worth approximately $119,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 4.7 %

NYSE:PKG opened at $170.88 on Wednesday. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $15.34 billion, a P/E ratio of 21.36, a P/E/G ratio of 4.35 and a beta of 0.78. The stock’s fifty day simple moving average is $181.56 and its 200-day simple moving average is $168.02.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results 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 18.94% and a net margin of 9.25%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $2.20 EPS. The firm’s revenue was up .2% on a year-over-year basis. Equities research analysts expect that Packaging Co. of America will post 8.24 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.93%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup increased 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. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Truist Financial lifted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research note on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $171.29.

Insiders Place Their Bets

In other news, 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 value of $1,825,100.00. Following 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 filing with the SEC, which is accessible through the SEC website. In other news, 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 value of $1,825,100.00. Following 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 filing with the SEC, which is accessible through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,041 shares of company stock worth $6,799,177. Corporate insiders own 1.70% of the company’s stock.

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.