Packaging Co. of America (NYSE:PKG) Shares Sold by Brookstone Capital Management

Brookstone Capital Management trimmed its stake in shares of Packaging Co. of America (NYSE:PKG) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,562 shares of the industrial products company’s stock after selling 339 shares during the period. Brookstone Capital Management’s holdings in Packaging Co. of America were worth $1,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CENTRAL TRUST Co grew its holdings in Packaging Co. of America by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock worth $559,000 after acquiring an additional 62 shares during the period. 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 acquiring 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 acquiring 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 acquiring 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 acquiring an additional 69 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Karen E. Gowland acquired 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the transaction, the director now owns 916 shares in the company, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America increased their price target on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Citigroup lowered their price target on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Truist Financial increased their price target on Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $176.29.

Packaging Co. of America Stock Performance

NYSE PKG opened at $182.56 on Friday. The company has a market cap of $16.39 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.96 and a beta of 0.78. The stock’s 50 day simple moving average is $181.12 and its 200-day simple moving average is $176.43. Packaging Co. of America has a 1-year low of $127.69 and a 1-year high of $191.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74.

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

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.74%. 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.