Packaging Co. of America (NYSE:PKG) Shares Sold by Xponance Inc.

Xponance Inc. cut its stake in shares of Packaging Co. of America (NYSE:PKG) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. CENTRAL TRUST Co boosted its holdings in Packaging Co. of America by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 62 shares in the last quarter. Scotia Capital Inc. lifted its stake in Packaging Co. of America by 1.2% in the third quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company’s stock valued at $791,000 after buying an additional 63 shares during the last quarter. Essex Savings Bank lifted its stake in Packaging Co. of America by 4.0% in the fourth quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock valued at $268,000 after buying an additional 63 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its stake in Packaging Co. of America by 0.4% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,793 shares of the industrial products company’s stock valued at $2,736,000 after buying an additional 72 shares during the last quarter. Finally, Bangor Savings Bank lifted its stake in Packaging Co. of America by 1.4% in the fourth quarter. Bangor Savings Bank now owns 5,151 shares of the industrial products company’s stock valued at $839,000 after buying an additional 73 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PKG has been the subject of several analyst reports. Truist Financial upped their price target on 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 cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Bank of America upgraded 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 note on Monday, March 4th. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Finally, Citigroup increased their price objective on Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $171.29.

Packaging Co. of America Stock Down 4.7 %

Packaging Co. of America stock opened at $170.88 on Wednesday. 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 firm has a market capitalization of $15.34 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 4.35 and a beta of 0.78. Packaging Co. of America has a fifty-two week low of $122.20 and a fifty-two week high of $191.27. The stock’s fifty day moving average is $181.56 and its two-hundred day moving average is $168.02.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 earnings per share. Analysts predict that Packaging Co. of America will post 8.24 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

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

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the firm’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 of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now directly owns 187,647 shares in the company, valued at approximately $33,975,365.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the firm’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 completion of the transaction, 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 valued at $6,799,177. Insiders own 1.70% of the company’s stock.

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.