Central Pacific Bank Trust Division Buys New Stake in Packaging Co. of America (NYSE:PKG)

Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America (NYSE:PKG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 149 shares of the industrial products company’s stock, valued at approximately $32,000.

Several other large investors have also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased its holdings in Packaging Co. of America by 5.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,461 shares of the industrial products company’s stock valued at $315,000 after buying an additional 69 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Packaging Co. of America by 329.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 464 shares of the industrial products company’s stock valued at $85,000 after buying an additional 356 shares during the last quarter. Cim LLC increased its holdings in Packaging Co. of America by 4.1% in the second quarter. Cim LLC now owns 11,975 shares of the industrial products company’s stock valued at $2,186,000 after buying an additional 467 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Packaging Co. of America in the second quarter valued at $2,994,000. Finally, Cetera Investment Advisers increased its holdings in Packaging Co. of America by 1.8% in the second quarter. Cetera Investment Advisers now owns 19,458 shares of the industrial products company’s stock valued at $3,552,000 after buying an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

PKG has been the topic of several research reports. Wells Fargo & Company raised 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. Bank of America raised their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Truist Financial raised 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. Finally, Citigroup raised 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. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $196.17.

Insider Activity at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America 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 $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. The trade was 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 through this link. In related news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the transaction, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG stock traded up $1.44 during midday trading on Friday, hitting $213.42. The company had a trading volume of 245,151 shares, compared to its average volume of 601,839. The company’s 50 day simple moving average is $204.50 and its 200 day simple moving average is $190.55. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $217.69. The stock has a market cap of $19.17 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 4.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the business posted $2.31 EPS. The company’s revenue was up 6.3% on a year-over-year basis. Research analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 dividend on an annualized basis and a dividend yield of 2.34%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

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.