OneDigital Investment Advisors LLC Lowers Position in Packaging Co. of America (NYSE:PKG)

OneDigital Investment Advisors LLC trimmed its stake in shares of Packaging Co. of America (NYSE:PKG) by 10.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,685 shares of the industrial products company’s stock after selling 551 shares during the period. OneDigital Investment Advisors LLC’s holdings in Packaging Co. of America were worth $1,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PKG. Asset Dedication LLC increased its position in shares of Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Packaging Co. of America during the third quarter valued at $32,000. Tortoise Investment Management LLC purchased a new stake in shares of Packaging Co. of America in the second quarter valued at $33,000. Strategic Financial Concepts LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter worth about $50,000. Finally, Assetmark Inc. lifted its holdings in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at $3,777,145. The trade was a 33.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert P. Mundy sold 12,500 shares of the business’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 sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PKG shares. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Citigroup boosted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Truist Financial reaffirmed a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $238.11 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market capitalization of $21.38 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 3.31 and a beta of 0.76. The company’s 50 day simple moving average is $221.90 and its 200-day simple moving average is $200.74. Packaging Co. of America has a 1 year low of $148.50 and a 1 year high of $245.00.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. As a group, equities research analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

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.