GoalVest Advisory LLC Buys New Shares in Packaging Co. of America (NYSE:PKG)

GoalVest Advisory LLC bought a new stake in Packaging Co. of America (NYSE:PKG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 350 shares of the industrial products company’s stock, valued at approximately $66,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CENTRAL TRUST Co increased its position in shares of Packaging Co. of America by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock valued at $559,000 after acquiring an additional 62 shares during the last quarter. Scotia Capital Inc. grew its holdings in Packaging Co. of America by 1.2% during the third quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 63 shares during the period. Essex Savings Bank grew its holdings in Packaging Co. of America by 4.0% during the fourth quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 63 shares during the period. Mather Group LLC. grew its holdings in Packaging Co. of America by 3.0% during 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 period. Finally, First Horizon Advisors Inc. grew its holdings in Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $187.00 to $191.00 in a report on Wednesday, April 24th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Bank of America boosted their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, Citigroup reduced their price objective on 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. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $176.29.

Insider Transactions at Packaging Co. of America

In related news, Director Karen E. Gowland purchased 300 shares of the stock in a transaction dated Wednesday, May 15th. The stock was bought at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the acquisition, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Trading Down 1.8 %

Shares of PKG stock opened at $183.19 on Friday. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The stock has a market cap of $16.45 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 5.05 and a beta of 0.78. The stock has a 50 day simple moving average of $181.07 and a 200 day simple moving average of $176.21. Packaging Co. of America has a 1 year low of $127.69 and a 1 year high of $191.39.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 earnings per share. On average, research analysts predict that Packaging Co. of America will post 8.33 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.73%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

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.