Global Retirement Partners LLC Grows Stock Holdings in Packaging Co. of America (NYSE:PKG)

Global Retirement Partners LLC raised its position in shares of Packaging Co. of America (NYSE:PKG) by 83.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 307 shares of the industrial products company’s stock after buying an additional 140 shares during the quarter. Global Retirement Partners LLC’s holdings in Packaging Co. of America were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Atria Wealth Solutions Inc. increased its holdings in shares of Packaging Co. of America by 93.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,147 shares of the industrial products company’s stock valued at $1,612,000 after acquiring an additional 3,457 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Packaging Co. of America by 23.5% during the fourth quarter. Venturi Wealth Management LLC now owns 3,683 shares of the industrial products company’s stock valued at $829,000 after acquiring an additional 702 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at about $224,000. Truist Financial Corp increased its holdings in shares of Packaging Co. of America by 4.8% during the fourth quarter. Truist Financial Corp now owns 24,351 shares of the industrial products company’s stock valued at $5,482,000 after acquiring an additional 1,122 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Packaging Co. of America by 2.6% during the fourth quarter. CIBC Asset Management Inc now owns 15,632 shares of the industrial products company’s stock valued at $3,519,000 after acquiring an additional 393 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Transactions at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PKG. Truist Financial restated a “buy” rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Citigroup increased their price target 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. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $213.08 on Friday. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The firm’s 50 day simple moving average is $222.19 and its 200-day simple moving average is $222.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.35%. Packaging Co. of America’s payout ratio is 55.99%.

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.