Brookstone Capital Management Decreases Stock Position in Packaging Co. of America (NYSE:PKG)

Brookstone Capital Management cut its position in Packaging Co. of America (NYSE:PKG) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,233 shares of the industrial products company’s stock after selling 104 shares during the quarter. Brookstone Capital Management’s holdings in Packaging Co. of America were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PKG. Stifel Financial Corp raised its holdings in Packaging Co. of America by 1,462.2% in the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after acquiring an additional 536,389 shares in the last quarter. Millennium Management LLC raised its holdings in Packaging Co. of America by 34.3% in the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after acquiring an additional 262,315 shares in the last quarter. AQR Capital Management LLC raised its holdings in Packaging Co. of America by 164.3% in the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after acquiring an additional 249,483 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Packaging Co. of America by 41,151.7% in the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after acquiring an additional 155,142 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Packaging Co. of America by 218.1% in the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after acquiring an additional 142,400 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on PKG shares. Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Truist Financial increased their target price on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, January 6th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Citigroup increased their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Packaging Co. of America Stock Up 0.9 %

Packaging Co. of America stock opened at $237.52 on Friday. The company has a 50-day simple moving average of $235.69 and a 200-day simple moving average of $216.89. The firm has a market capitalization of $21.33 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.24 and a beta of 0.79. 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 has a one year low of $159.57 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, equities analysts expect that Packaging Co. of America will post 9.08 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Insider Transactions at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,300 shares of company stock worth $8,064,152. Insiders own 1.70% of the company’s stock.

Packaging Co. of America 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.