Packaging Co. of America (NYSE:PKG) Stock Holdings Cut by Park Place Capital Corp

Park Place Capital Corp reduced its position in shares of Packaging Co. of America (NYSE:PKG) by 45.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 248 shares of the industrial products company’s stock after selling 210 shares during the quarter. Park Place Capital Corp’s holdings in Packaging Co. of America were worth $47,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CENTRAL TRUST Co lifted its position in shares of Packaging Co. of America by 1.8% during the 4th 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. lifted its position in shares of 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 acquiring an additional 63 shares during the last quarter. Essex Savings Bank lifted its position 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 acquiring an additional 63 shares during the last quarter. Mather Group LLC. lifted its position in shares of Packaging Co. of America by 3.0% during the 4th quarter. Mather Group LLC. now owns 2,263 shares of the industrial products company’s stock valued at $369,000 after acquiring an additional 66 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the subject of a number of recent research reports. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Citigroup reduced their target price 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. Bank of America increased their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a 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 target price for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Finally, Truist Financial increased their target price on Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.67.

Insiders Place Their Bets

In other Packaging Co. of America news, Director Karen E. Gowland purchased 300 shares of the stock in a transaction dated Wednesday, May 15th. The shares were bought at an average cost of $182.06 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Packaging Co. of America Trading Down 1.4 %

NYSE PKG opened at $180.06 on Tuesday. Packaging Co. of America has a 1-year low of $127.69 and a 1-year high of $191.39. 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 company has a market capitalization of $16.17 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 4.94 and a beta of 0.77. The firm’s fifty day simple moving average is $181.14 and its 200-day simple moving average is $176.60.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. The firm had revenue of $1.98 billion for 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 business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 earnings per share. As a group, sell-side analysts anticipate that Packaging Co. of America will post 8.33 earnings per share for the current fiscal 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 given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, June 14th. 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.