AdvisorNet Financial Inc Decreases Stock Position in Packaging Co. of America (NYSE:PKG)

AdvisorNet Financial Inc reduced its holdings in shares of Packaging Co. of America (NYSE:PKG) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,215 shares of the industrial products company’s stock after selling 146 shares during the period. AdvisorNet Financial Inc’s holdings in Packaging Co. of America were worth $1,399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PKG. Choreo LLC purchased a new stake in shares of Packaging Co. of America in the second quarter valued at $429,000. Envestnet Asset Management Inc. raised its stake in Packaging Co. of America by 6.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 226,832 shares of the industrial products company’s stock valued at $41,411,000 after purchasing an additional 14,010 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new position in Packaging Co. of America in the 2nd quarter valued at about $316,000. Dimensional Fund Advisors LP lifted its holdings in Packaging Co. of America by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after purchasing an additional 86,005 shares in the last quarter. Finally, Lmcg Investments LLC boosted its stake in shares of Packaging Co. of America by 0.5% during the 2nd quarter. Lmcg Investments LLC now owns 68,777 shares of the industrial products company’s stock worth $12,556,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Transactions at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $232.35 on Wednesday. The business’s fifty day moving average price is $235.97 and its 200 day moving average price is $215.60. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $20.87 billion, a P/E ratio of 27.08, a PEG ratio of 3.34 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data 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. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company posted $2.05 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. As a group, research analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.15%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PKG. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Truist Financial boosted their price target on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company raised their price objective 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. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Citigroup raised their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.