Wealthcare Advisory Partners LLC Buys Shares of 1,986 Packaging Co. of America (NYSE:PKG)

Wealthcare Advisory Partners LLC purchased a new position in Packaging Co. of America (NYSE:PKG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,986 shares of the industrial products company’s stock, valued at approximately $377,000.

A number of other large investors have also recently made changes to their positions in the stock. CENTRAL TRUST Co lifted its position 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 valued at $559,000 after purchasing an additional 62 shares during the period. Scotia Capital Inc. raised its stake in Packaging Co. of America by 1.2% during the 3rd quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company’s stock valued at $791,000 after buying an additional 63 shares during the last quarter. Essex Savings Bank lifted its holdings in shares of Packaging Co. of America by 4.0% during the 4th quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock valued at $268,000 after buying an additional 63 shares during the period. Mather Group LLC. boosted its stake in shares of Packaging Co. of America by 3.0% in the 4th quarter. Mather Group LLC. now owns 2,263 shares of the industrial products company’s stock worth $369,000 after buying an additional 66 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Packaging Co. of America by 60.5% in 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 currently owned by institutional investors.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $182.56 on Monday. The company has a market capitalization of $16.39 billion, a P/E ratio of 22.82, a P/E/G ratio of 4.94 and a beta of 0.78. Packaging Co. of America has a 1-year low of $127.69 and a 1-year high of $191.39. The firm’s 50 day simple moving average is $181.12 and its two-hundred day simple moving average is $176.51. 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 analysts’ consensus estimates of $1.63 by $0.09. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. Packaging Co. of America’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 EPS. Research analysts expect that Packaging Co. of America will post 8.33 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders 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 dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling

In other Packaging Co. of America news, Director Karen E. Gowland purchased 300 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the purchase, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PKG. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a report on Friday, April 12th. Truist Financial boosted their target price on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company upgraded shares of 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. Finally, Bank of America boosted their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $183.67.

About Packaging Co. of America

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.