Kestra Private Wealth Services LLC Increases Stock Position in Packaging Co. of America (NYSE:PKG)

Kestra Private Wealth Services LLC raised its position in Packaging Co. of America (NYSE:PKG) by 6.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,171 shares of the industrial products company’s stock after purchasing an additional 130 shares during the period. Kestra Private Wealth Services LLC’s holdings in Packaging Co. of America were worth $354,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PKG. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Packaging Co. of America during the 3rd quarter valued at about $25,000. Anchor Investment Management LLC purchased a new position in Packaging Co. of America during the fourth quarter worth approximately $37,000. Fortis Group Advisors LLC acquired a new stake in Packaging Co. of America in the third quarter valued at approximately $46,000. BKM Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $49,000. Finally, Orion Capital Management LLC acquired a new position in shares of Packaging Co. of America during the 3rd quarter worth approximately $53,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 1.7 %

Shares of Packaging Co. of America stock opened at $179.15 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $182.41 and its 200-day simple moving average is $169.64. The stock has a market cap of $16.08 billion, a P/E ratio of 22.39, a P/E/G ratio of 4.29 and a beta of 0.80. 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 announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the business earned $2.20 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Packaging Co. of America will post 8.21 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.79%. Packaging Co. of America’s payout ratio is presently 62.50%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now directly 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 accessible through this hyperlink. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the 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 owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares of the company’s stock, valued at $31,967,034. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,041 shares of company stock worth $6,799,177. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Citigroup dropped their price target on shares of 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 cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $187.00 to $191.00 in a report on Wednesday, April 24th. 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $173.57.

Packaging Co. of America Company 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.