Central Pacific Bank Trust Division Buys 1,184 Shares of Packaging Co. of America (NYSE:PKG)

Central Pacific Bank Trust Division raised its position in shares of Packaging Co. of America (NYSE:PKG) by 794.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,333 shares of the industrial products company’s stock after purchasing an additional 1,184 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Packaging Co. of America were worth $300,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PKG. Larson Financial Group LLC grew its holdings in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares in the last quarter. Asset Dedication LLC grew its stake in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 112 shares in the last quarter. Assetmark Inc. grew its stake in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares in the last quarter. Brooklyn Investment Group bought a new stake in Packaging Co. of America in the 3rd quarter valued at $64,000. Finally, Allworth Financial LP lifted its stake in Packaging Co. of America by 65.1% in the 3rd quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 123 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Insider Activity at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock worth $8,064,152 in the last quarter. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PKG. Citigroup raised their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $231.33.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $225.88 on Friday. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. The stock has a 50 day moving average price of $236.06 and a 200-day moving average price of $213.63. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. Equities analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Packaging Co. of America Company Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.