HB Wealth Management LLC Has $2.10 Million Holdings in Packaging Co. of America (NYSE:PKG)

HB Wealth Management LLC boosted its stake in shares of Packaging Co. of America (NYSE:PKG) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,340 shares of the industrial products company’s stock after purchasing an additional 308 shares during the quarter. HB Wealth Management LLC’s holdings in Packaging Co. of America were worth $2,103,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new position in shares of Packaging Co. of America in the 3rd quarter valued at $32,000. Fortitude Family Office LLC grew its holdings in 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 acquiring an additional 98 shares during the last quarter. Larson Financial Group LLC grew its holdings in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Assetmark Inc. boosted its stake 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 valued at $58,000 after purchasing an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Packaging Co. of America in the 3rd quarter valued at about $64,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,300 shares of company stock valued at $8,064,152. 1.70% of the stock is owned by corporate insiders.

Packaging Co. of America Price Performance

Shares of PKG opened at $237.52 on Monday. The stock has a market capitalization of $21.33 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.24 and a beta of 0.79. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82. The company has a 50 day moving average of $235.69 and a 200-day moving average of $217.15. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate 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 net margin of 9.46% and a return on equity of 19.10%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the business earned $2.05 EPS. As a group, equities research analysts forecast that Packaging Co. of America will post 9.08 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PKG. Wells Fargo & Company increased their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Citigroup raised their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, Truist Financial raised their target price on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.