First Horizon Advisors Inc. Acquires 69 Shares of Packaging Co. of America (NYSE:PKG)

First Horizon Advisors Inc. boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 60.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 183 shares of the industrial products company’s stock after purchasing an additional 69 shares during the quarter. First Horizon Advisors Inc.’s holdings in Packaging Co. of America were worth $30,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PKG. First Trust Direct Indexing L.P. raised its position in shares of Packaging Co. of America by 33.2% during the fourth quarter. First Trust Direct Indexing L.P. now owns 2,253 shares of the industrial products company’s stock valued at $367,000 after buying an additional 561 shares during the last quarter. Savant Capital LLC lifted its stake in Packaging Co. of America by 2.7% in the 4th quarter. Savant Capital LLC now owns 3,098 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 81 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new position in shares of Packaging Co. of America during the 4th quarter valued at about $534,000. Kestra Private Wealth Services LLC grew its position in shares of Packaging Co. of America by 6.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 2,171 shares of the industrial products company’s stock valued at $354,000 after purchasing an additional 130 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Packaging Co. of America by 3.0% in the fourth quarter. Mather Group LLC. now owns 2,263 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 66 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,041 shares of company stock worth $6,799,177. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PKG has been the subject of several research analyst reports. Seaport Res Ptn cut Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research note on Friday, April 12th. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Finally, Citigroup lowered their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $173.57.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $178.43 on Thursday. The firm has a market capitalization of $16.01 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 4.29 and a beta of 0.80. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The firm has a 50-day moving average price of $182.45 and a 200-day moving average price of $169.70. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that Packaging Co. of America will post 8.21 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.80%. Packaging Co. of America’s payout ratio is 62.50%.

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.