Centricity Wealth Management LLC Buys New Shares in Packaging Co. of America (NYSE:PKG)

Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 195 shares of the industrial products company’s stock, valued at approximately $44,000.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares in the last quarter. Larson Financial Group LLC increased its holdings in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $48,000. Assetmark Inc. raised its position in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Packaging Co. of America in the third quarter valued at $64,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $208.19 on Friday. The company has a market capitalization of $18.70 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.44 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The stock’s 50 day moving average is $224.09 and its 200-day moving average is $221.82.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Equities research analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.40%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Wells Fargo & Company reduced their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

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.