Bard Financial Services Inc. Has $397,000 Holdings in Packaging Co. of America (NYSE:PKG)

Bard Financial Services Inc. trimmed its stake in Packaging Co. of America (NYSE:PKG) by 15.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,845 shares of the industrial products company’s stock after selling 325 shares during the period. Bard Financial Services Inc.’s holdings in Packaging Co. of America were worth $397,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Boston Partners grew its holdings in Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after buying an additional 477,487 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in Packaging Co. of America by 175.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock valued at $71,401,000 after buying an additional 279,059 shares during the last quarter. Millennium Management LLC grew its holdings in Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after buying an additional 262,315 shares during the last quarter. AQR Capital Management LLC grew its holdings in Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after buying an additional 249,483 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Packaging Co. of America by 31.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock valued at $127,659,000 after buying an additional 189,401 shares during the last quarter. 89.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Packaging Co. of America Trading Up 0.7 %

Shares of Packaging Co. of America stock traded up $1.39 during trading on Friday, reaching $213.37. 245,151 shares of the company were exchanged, compared to its average volume of 601,839. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $217.69. The business has a 50-day moving average price of $204.79 and a 200-day moving average price of $190.83. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 4.24 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted 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 return on equity of 18.21% and a net margin of 9.06%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 earnings per share. Sell-side analysts anticipate that Packaging Co. of America will post 8.72 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.34%. Packaging Co. of America’s payout ratio is presently 62.50%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PKG shares. Citigroup lifted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Truist Financial lifted their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America raised their target price 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. Finally, StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $196.17.

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.