Tidal Investments LLC Cuts Stake in Packaging Co. of America (NYSE:PKG)

Tidal Investments LLC lessened its holdings in shares of Packaging Co. of America (NYSE:PKG) by 32.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,390 shares of the industrial products company’s stock after selling 4,908 shares during the quarter. Tidal Investments LLC’s holdings in Packaging Co. of America were worth $2,238,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in Packaging Co. of America in the third quarter valued at about $836,000. Sanctuary Advisors LLC increased its holdings in shares of Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after acquiring an additional 2,946 shares in the last quarter. Aldebaran Financial Inc. purchased a new position in shares of Packaging Co. of America in the 3rd quarter valued at approximately $215,000. Passumpsic Savings Bank acquired a new stake in Packaging Co. of America in the 3rd quarter worth approximately $212,000. Finally, Toronto Dominion Bank grew its position in Packaging Co. of America by 1.4% during the 3rd quarter. Toronto Dominion Bank now owns 44,122 shares of the industrial products company’s stock worth $9,504,000 after purchasing an additional 627 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Buying and Selling

In other news, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at $3,777,145. This represents a 33.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,300 shares of company stock valued at $8,064,152. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PKG. Truist Financial reaffirmed a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup increased their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.60.

Packaging Co. of America Price Performance

Shares of PKG opened at $237.09 on Tuesday. The company has a market capitalization of $21.29 billion, a P/E ratio of 27.63, a P/E/G ratio of 3.34 and a beta of 0.77. The business’s 50-day moving average is $234.09 and its two-hundred day moving average is $209.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the business earned $2.05 earnings per share. Research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

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.