Mission Wealth Management LP Has $335,000 Stake in Packaging Co. of America (NYSE:PKG)

Mission Wealth Management LP lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 15.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,766 shares of the industrial products company’s stock after purchasing an additional 238 shares during the quarter. Mission Wealth Management LP’s holdings in Packaging Co. of America were worth $335,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Register Financial Advisors LLC bought a new stake in Packaging Co. of America during the first quarter valued at $25,000. Neo Ivy Capital Management acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at about $28,000. First Horizon Advisors Inc. boosted its position in shares of Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares in the last quarter. Gables Capital Management Inc. acquired a new stake in Packaging Co. of America during the fourth quarter worth approximately $31,000. Finally, Anchor Investment Management LLC bought a new stake in Packaging Co. of America in the fourth quarter worth approximately $37,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Down 1.1 %

Shares of Packaging Co. of America stock traded down $2.01 during trading hours on Friday, reaching $177.57. The company’s stock had a trading volume of 603,226 shares, compared to its average volume of 495,370. The company has a market capitalization of $15.95 billion, a P/E ratio of 22.20, a P/E/G ratio of 4.86 and a beta of 0.77. The stock’s fifty day simple moving average is $181.65 and its two-hundred day simple moving average is $176.82. Packaging Co. of America has a one year low of $127.69 and a one year high of $191.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46.

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 the consensus estimate of $1.63 by $0.09. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. On average, research analysts forecast that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.82%. Packaging Co. of America’s payout ratio is 62.50%.

Insider Buying and Selling

In related news, Director Karen E. Gowland acquired 300 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the purchase, the director now owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on PKG. Bank of America increased their price target on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a report on Friday, April 12th. Truist Financial lifted their price target on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.67.

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.