Inspire Investing LLC Sells 891 Shares of Packaging Co. of America (NYSE:PKG)

Inspire Investing LLC lowered its stake in shares of Packaging Co. of America (NYSE:PKG) by 38.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,443 shares of the industrial products company’s stock after selling 891 shares during the quarter. Inspire Investing LLC’s holdings in Packaging Co. of America were worth $263,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in shares of Packaging Co. of America in the second quarter valued at about $1,529,000. Hsbc Holdings PLC grew its position in Packaging Co. of America by 2.6% in the 2nd quarter. Hsbc Holdings PLC now owns 224,066 shares of the industrial products company’s stock worth $41,012,000 after purchasing an additional 5,585 shares in the last quarter. Zega Financial LLC increased its stake in Packaging Co. of America by 6.7% in the 2nd quarter. Zega Financial LLC now owns 1,600 shares of the industrial products company’s stock valued at $292,000 after buying an additional 100 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Packaging Co. of America by 14.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,379 shares of the industrial products company’s stock worth $1,161,000 after buying an additional 828 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Packaging Co. of America by 40.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,049 shares of the industrial products company’s stock worth $8,589,000 after buying an additional 13,575 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PKG. Citigroup increased their price target on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Bank of America lifted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Truist Financial increased their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.50.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $215.12 on Wednesday. The company has a 50-day moving average price of $201.48 and a two-hundred day moving average price of $189.18. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $217.69. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $19.32 billion, a PE ratio of 26.89, a P/E/G ratio of 4.22 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts forecast that Packaging Co. of America will post 8.72 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.32%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.