Pathstone Holdings LLC Trims Holdings in Packaging Co. of America (NYSE:PKG)

Pathstone Holdings LLC lessened its holdings in Packaging Co. of America (NYSE:PKG) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,262 shares of the industrial products company’s stock after selling 176 shares during the quarter. Pathstone Holdings LLC’s holdings in Packaging Co. of America were worth $3,723,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PKG. Victory Capital Management Inc. boosted its stake in shares of Packaging Co. of America by 1.5% in the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock worth $520,920,000 after buying an additional 41,903 shares during the last quarter. Boston Partners boosted its position in Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after purchasing an additional 477,487 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Packaging Co. of America by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after purchasing an additional 86,005 shares during the period. Millennium Management LLC increased its holdings in shares of Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after purchasing an additional 262,315 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Packaging Co. of America by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock valued at $164,985,000 after purchasing an additional 42,465 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction 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 transaction, the chief financial officer now owns 43,954 shares in the company, 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. In the last quarter, insiders sold 31,000 shares of company stock worth $7,500,905. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PKG. Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup lifted their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Truist Financial restated a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $221.60.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $246.39 on Monday. The stock has a market capitalization of $22.13 billion, a P/E ratio of 28.72, a PEG ratio of 3.44 and a beta of 0.76. The business has a 50 day simple moving average of $224.82 and a two-hundred day simple moving average of $202.61. Packaging Co. of America has a 12 month low of $153.58 and a 12 month high of $248.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS 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 firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the company earned $2.05 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts predict that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.03%. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

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.